100 oz Engelhard or Johnson Matthey Silver Bar .999 Fine
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Posted on 04/24/2011 3:05:06 AM PDT by Daisyjane69
If you want to cut right to the chase, start paying attention at the 4:00 minute mark.
This 80% cash settlement for not taking physical delivery of silver contracts has been rumored for a while now. This is the first time I've seen someone with a name and some credibility seemingly confirm it.
The question in my mind is will they someday just renege on the contract because things never turn around for them?
One easy change would be --- You can have your 5000 oz silver bars but you have to wait 3-6-12 months to get them. This way the silver refineries could catch up and manufacture more of those COMEX certified 5000 ounce silver bars
You bring up exactly what Chapman talks about. He says that they will end up with 3 choices:
1. To partically renege on the contracts owned, paying 20-30 cents on the dollar for them
2. To completely renege on SLV or GLD, investors getting zero.
3. OR...the FED bailing out JPM & the usual suspects at a cost of between 90-130 BILLION dollars, depending on the price at which they pull the trigger.
“Silver bar of 100oz are available much much cheaper at about 3% over spot silver.”
True although my last buy took two weeks to get here.
Ok so what about the Ishares... SLV can you get the government to pay on those and how?
100 oz Engelhard or Johnson Matthey Silver Bar .999 Fine
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I just listened to the interview and am wondering how much this rumor is circulating- I am not familiar with Bob Chapman so can’t know whether he’s a credible guy, but this is a helluva story, if it’s true.
I’ve been watching SLV closely in the last 4-5 weeks and it’s nuts.
I’ll go read up on Chapman now.
He has a website:
http://www.theinternationalforecaster.com/
You can go back months, probably years, to see what he’s been saying.
Hope that saves you some work.
SLV is iffy
Buy Sprott silver fund in Canada if you want to be assured physical silver...But they charge 20% premium
thanks:) I found it as soon as I started my search. What I was wondering is if he’s a classic conspiracy guy or if he’s level-headed and grounded in the real world. One thing is clear, GS, JP Morgan and their pals have power so amazing that it doesn’t make for sound sleeping..
Thank you both again for patiently clarifying things for me.
Oh God. I am old enough to remember the 20 times face value paid for silver coins go around form the early 80’s. People were being told it was going to go to 40 times so buy silver coins. Then it crashed.
If it sounds too good to be true; it probably is.
PS: One is born every minute aren’t they...
I guess that answers my question- and Chapman “outed” him on the Alex Jones show...say no more.
Thanks for the post but I’m still a little unclear. I’m only recently a silver buyer and that of old quarters in a bag that I walk away with in my backpack.
The contracts and all that I know nothing of.
So people will be getting 80% of the value of a contract that they hold and still get to hold the contract and this benefits whom and why are the banks doing it?
Sorry for my ignorance on this subject but I am interested.
My grandfather lost his shirt going long in silver along with the Hunt Brothers. I’d be quite wealthy today if I still had all the silver bars he owned at one point.
"They" aren't charging the premium. Shares in Sprott's trust are freely bought and sold on the open market. Presently-existing holders are the ones offering shares for sale. They are the ones willing to part with their shares for the 20% premium.
If you own a fully-paid for silver futures contract and you “stand for deliver” then the seller of contract has agreed to, and is legally obliged to, deliver you the physical silver you paid for when buying the contract. One contract is 5,000 oz of silver. The story is, JPM is a big seller of contracts, but doesn’t have and can’t find the silver to deliver, so they are willing to pay an 80% cash premium over the going market price of silver, to make you go away, given that they can’t deliver the goods. So they pay you 180% of the market value, which you paid 100% for (it being a “fully-paid-for” contract on your part).
Thing is, next month, you can turn around and buy another contract for 100% of the then-current cash value; lather, rinse, repeat.
Bummer for JPM ... so the story goes.
The bad news is, 5000 ounces of silver at 46 dollars/ounce = $230,000, so not every mom and pop can get in on this deal - although there are “mini-contracts” of silver, 1000 ounces, but I don’t know if they are being settled at the same premium, or indeed for any premium. Those would cost only $46,000 each to find out.
Wow, that’s quite a story. Thanks for all the detail making it clear.
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