The Reality Of Available Gold & Silver Bullion

At $3 silver, look for a default.

 

Here is a nice article that gives an accurate description of how the Comex works for taking delivery for those who would like to know how things work.

http://www.forbes.com/sites/kitcone...-system-actually-works-clearing-up-confusion/


Jim

 

Thanks Jim. That helps me understand how the Comex works. They think the chance of a default is extremely low because it would be unrealistic for all holders to demand physical at once. Hasn't happened in 100 years they say. I think if the U.S. loses the reserve currency which btw has never happened before, can only lose it once. It could be possible for many holders to demand physical out of fear and therefore cause a default , but under normal circumstances , they would be able to deliver.

 

Looks like the crystal balls are out again.

What happens to your investment in silver and gold if you have gone all in based on the "insiders" liquidating their assets, but it doesn't end up happening? Or doesn't happen for a year? Or a couple of years? Your assessment of a crash is very specific.

 

I happen to have the ACME 6000LE model dialed in specifically for economic collamities with the precious metal aquiring feature

 

You fool.
That system has bugs that are terminal and there are no downloadable patches.
The latest is the ACME 7500LE and this has the updated software.

 

Then your insured during that period of time against a crash.
No one can foretell the future.

 

That's absolutely right. No one can foretell the future, but that won't stop some people trying.

I don't know about you but I wouldn't spend my entire savings on insurance. Especially when the outcome and specific effects on the price of Gold and Silver is not certain in the case of a crash, but some insurance is always necessary.

 

Dang it!! When I bought in at 37$ it said silver was going to the moon!!

 

Here is an interesting story developing. When I see stories like this it confirms why buying local is best (for me at least).

http://thenewsdoctors.com/provident-metals-defaults-on-delivery-of-rcm-10-oz-bars-dave-kranzler/


Jim

 

Spot on...Shortages had been bandied around for too long. There is no shortage.

 

Very interesting indeed. Provident should have held the bar for the seller upon making the sale. In their defense, it is normal for them to hold the check that long. Apmex does this as well with checks. I know this because that is the only way I buy bullion online. It can save you on premiums this way but takes a bit longer. I was a little nervous when I bought some privateers from them and they discontinued making them right after I had placed the order. 2 weeks later my silver had shown up safe and sound.