I watched this. Summary: 3 min mark+ = Dave is a pumper. Bron is an apologist. Silver shortage. Dave's main point isn't too bad. His logic that the banks don't have all the metal in physical form is correct. However the system was never intended to function that way. Here's how the system works, which is from Bron who makes no bones about what happens... This is from Bron's blog. The interesting part is why there is a shortage of retail silver. I do not see demand being more than usual personally, in fact I see it as being demur but that's not to say elsewhere there isn't demand. Is silver being diverted? My hutch is that's a far more likely explanation than retail demand being overwhelming. I think the story of this massive demand is over stretched because we are just not seeing it like in the past with queues etc. So Dave's argument to me, of diversion, is very plausible. So where is the silver being diverted to? Because it's still demand in a sense, seems like that is getting priority over the retail scene which you'd imagine is more profitable. So it's more likely to be a larger buyer/s.
Retail demand has been constantly high for the past three months. There's no queues out the door like days when gold drops $200/oz - but daily turnover is constantly well above average. It's sustained demand, not a short blip.
Thanks...I'm leaning towards Bron on this one with plenty of wholesale silver out there. It is true that China and India are heavily invested in solar technology which demands high imports of silver...However, my personal view is this is a short term glitch for retail silver.... Cheers
Plenty of silver around, and we have higher demand as Pelican says - due in no small amount to the spot price which is being driven by lower industrial demand. Right now, it's clearly a production constraint at the mints and refiners where they simply cannot produce enough units of certain SKUs to keep up with demand. I can get ABC/Perth Kilobars of silver without much trouble, and even 10oz Minted is reasonably plentiful however I may need to take a different brand. The issue right now is 1oz LT coins. This is where the vast majority of demand is right now. ASEs are production constrained, Maples are getting snapped up fast, and Perth coins are in high demand. And most of it has to do that the 2015 production was complete, the mints are gearing up for 2016 production and the prices drop, driving demand and then there's no 2015 stock around. 2016 Kookas are online now so we will see an initial jump in demand and this will start to fall back. Hopefully Perth decide to make more of them to satisfy the higher demand - I would say they would be silly not to.
In a couple months I expect things to calm down..After New Year when people are short of cash demand slows. I like March to April for purchases. To be honest, for me I'm not struggling to buy silver now. Mind you, I'm not in the market for monster boxes of ASEs or Canadian Maples either ( regardless of shortage ). For me what is perceived as a shortage is not even a glitch ( whether it's true or not ). But for some, bullion is like heroine. When shortages are on they need a bullion jab and pay whatever ridiculous premium is out there. I go on controlled withdrawal and then cold turkey during these times... Cheers.
I never heard of such a crazy thing..... .....hey, by the way, could ya please pass that silver needle before I freak out? .
Partly because major mints supply the dealers in The US and Europe first. And why not smooch the pooch ? The Mints know the big overseas dealers have to be looked after first, as they have the larger clientele base and can demand cheaper rates by volume. Australia is just a backwater in comparison to the larger populated countries. So the mints feed the larger fish first before the minnows in the backwater get to fed. US and European stackers are now getting their 2016 kangaroos ( which looks like a blessing in disguise ). I don't blame The Mints for servicing the Grand poobah first at the expense of the rest of The loyal order water buffaloes...Christmas is over and Business is Business.
The only thing that fascinates (and disappoints) me is that the SGT report still gets the views that it does. Permabull and/or doomtard rubbish consistantly for 6(?) years now. If silver was hard to get it wouldn't be under $15USD at the moment, made up theories to justify crappy investments are not going to sway the facts. These are people who are waiting for a nuclear WW3 and 1 for 1 silver/gold ratio. yeah, I think I'll take my chances with Bron.
Yeah Aureus, once September 2015 is over, and the sky hasn't fallen, scare-mungering demand should drop off somewhat. If this is the best this rally can do, does not bode well into the end of year.
I am with Dave on this one. Great to be in a position to sell things that don't exist. Ask the miners how they are doing or why not ask the Australian economy how it's doing. Just peachy. The criminal bankers and the fraudulent paper markets continue to manipulate and rob us all yet you think it's great in fact fantastic that the Comex can keep this game of musical chairs going. Not forever, it may fall apart faster than we all think. Oh before I forget when a shortage does eventuate next week next month or next year and there is no metal to be had it won't only be the Comex that goes belly up.
100% agree. Price tells all. And the only theory they keep churning out is the same old BS regarding COMEX inventory... like it matters? If COMEX inventory mattered even a little pinch of shyte, then where are the Indians and Chinese getting all this metal they claim is being "hoovered" via record imports? It ain't the turtling COMEX vault. :lol:
The Libs hahaha ask Rudd and Julia the red dragon. I hate both sides af Australian politics but you can't only blame the Libs haha. When it comes to fiddling the prices of commodities, financial assets and the devaluation of currency you can't beat the Central banks in league with the banks.
Fair enough call. So, Back to topic... Where is all the India/China metal coming from if COMEX inventory matters..... ?
Started talking about a 30 year old plan by the rothschilds to create a one world currency. Stopped listening. Why do these conspiracy nuts think that these hypervigilant and hypercapable illuminati groups want to show off their plans and give clues out left and right da vinci style?
If you want to throw the hounds off your scent, what better way to distract them than to flood the internet and social networks with clues to faux-conspiracies? Maybe even manufacture some minor conspiracies with the intention that they eventually be discovered? A bright light pointed away creates sharp shadows in which to hide.
