Posted on 04/24/2011 6:01:53 PM PDT by JimWayne
Everyone seems to be in loot mode, rich and poor alike - the bankers, auto companies, the auto companies unions, our senior citizens, the leisure class etc. Not to mention politicians who pat themselves on the back for cutting 1/10th of 1% out of a budget that has gone up 1,000 times the 1/10th of 1% they cut.
Sadly, I think your "every man for himself" analogy is quite true. It makes one wonder if we're all not picking at a carcass at this point.
We no longer have a majority who believe in the founding principles.
Comprehension of founding principles isn't the only vital "pillar" of America that's crumbling. Other pillars such as property rights, the family, free markets, education, our collective moral ethos, civic awareness, culling of natural resources, industrial prowess, the financial system - the list goes on.
Hopefully when silver does hit an intermediate top, I will rotate out of it and into svrzf. Run by the same guys who manage CEF and GTU, two precious metals Canadian funds that have been around since the 1960’s. They audit twice yearly and count the metal. Premium is lower than Sprott Physical Silver. Only potential drawback is issuance of new shares followed up by purchase of more metal, which results in some temporary dilution. However, they have the purchase of the metal lined up before the issue. CEF is up over 125% in last three years. SVRZF has doubled in the past six months and is getting ready to again.
I don’t have a lot in AGQ as I totally don’t trust them. They are using options no doubt to double leverage. Hopefully I will time right.
Nobody is obligated to purchase your silver or gold at any “spot” price, either.
Check ebay, silver there is trading for 50-58 dollars an oz over the last three days. I use it as a leading market indicator. That market trades 24/7.
Look at completed listings of “100 oz englehard silver bar” and you’ll find today’s auctions closing at $51-$52.50/oz., and for premium styles. Yesterday’s closes were at $46.50-$50/oz.
Rightnow there are some 100 oz bars going n the range of 50-56 a oz
Spot is the futures or Comex price. When one takes physical to a coin dealer he is under no obligation to purchase at the spot price nor any other price for that matter. This happened during the run up in 1980.
Rightnow there are some 100 oz bars going n the range of 50-56 a oz
And what things are bid at now is not as good an indicator as completed listings. (Some overbids are canceled).
I you posted a link to a specific item that fuels your view, I inevitably would have things to point out that make it more attractive and meriting a premium.
You may as well tout what nwtmint.com has as the selling price of a 1/10 oz Eagle, to tell me the “real” price of gold (it turns out to be over $2000). Silver is $65/oz if you go by what they sell small lots of Silver Eagles for.
Do you have a point?
Rightnow there are some 100 oz bars going n the range of 50-56 a oz
80% of the auctions are below $50/oz right now (and of course many will rise to the market).
Overpriced “buy it now” asking prices aren’t relevant to the market.
If you want the market data of actual sales, select “buying formats” in the left column, and select “completed listings.” It’s a gold mine of info. Look for the prices in green (sales) not in red (didn’t sell).
“Never bet against America. You may not yet see how or when, but something will change things and America will step forward strongly.”
I didn’t bet against America when I voted for Reagan and thought the Republicans would join him. They fought against him in many ways.
I didn’t bet against America when I bought treasury Bills and Savings Bonds, but they now bring next to nothing in interest.
I didn’t bet against America when I thought the American people wouldn’t vote for an outright anti-American communist, but they did.
I didn’t bet against America when I joined the military service, but now they allow in the homosexuals and other social experiments.
I didn’t bet against America when I purchased those items “Made in the USA”, only to find my government did its best top allow in cheap foreign knockoffs and Americans bought the products, ruining American enterprise and their own jobs.
I didn’t bet against America when I bought precious metals, knowing my government was devaluing our currency by over inflating the currency.
I didn’t bet against America, Americans did.
yes I exclude the buy now’s and only scan the bid, then look at what they go for
I’ll check that out.
No. Only in Silver
Gold is barely 33% in the same time (which is still good)
My apologies for your confusion.
Hope this helps. A lot of people are misguided if they think they will be able to realize the spot or futures price in a real spike - coin dealers get backed up with product (as in 1980) because refineries are similarly deluged, and so will offer only a fraction of the “paper price”. Profit margins for bullion are low, and dealers make their money on the spread by simultaneously making an offsetting purchase or sale depending. In the same way that dealers may not purchase product, if the spot price declines enough there may not be any physical available at that price.
That’s propably true for some little local dealers.
I don’t know how many are buying with the intention to try to time their sales at a peak. I certainly wouldn’t advise that, since it’s darn hard to know when you hit the peak.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.