Morning all. Having seen the easing in silver spot over the last 48 hours or so, and in light of all I hear and read about JPM's naked short position, when, if ever, do you think they will be exposed? And if that happens, will we see the price head north again? Is this a consolidation around the $29 mark? Your thoughts?
Odds are that 2011 will be the year that the Comex defaults, because things seem to be getting tighter and tighter in the physical market. I was on the phone with a tax client today. He will be buying a $100k of gold/silver within the next week or two. I helped another client buy $80k of gold within the last month. This morning I bought 40oz of ASEs for a friend of a friend. It adds up. All three of these people will be repeat buyers. Time is on our side. In Eric King's interviews the interviewees talk about clients having difficulty in obtaining their gold and silver bars that were stored at Swiss banks. One month for the gold holder and two months (and counting) for the silver holder. You have to wonder who really has the gold they claim to own or hold in custodial storage.
Just curious dccpa....were these clients who are purchasing gold and silver swayed by your own purchasing or did they do their own research and just request? Just wondering how broad the stackers are??
Just another thought....if Silver was to skyrocket would it not affect all the instruments and utilities to increase in price? ie mobile phones, jewlery etc? Do you think this is a reason to keep Silver prices lower.....via manipulation???
As I understand it, the silver per manufactured item cost is quite small. Cents per unit. It a big cost increase overall, but the per unit increase is less significant.
"Do you think this is a reason to keep Silver prices lower.....via manipulation???" I would not imagine that manufacturers would be using their capital to manipulate the cost of a commodity (to them) just to save a few cent per device, they are individually small compared to a market. You need deep pockets and balls of steel to short silver down on a bull run like this. Only people in the money game are in the position with the skills needed to know exactly when and where to spend your manipulation risk capital wisely. If I was a manufacturer, I would look for a big fat pullback and buy up a few years supply knowing my competition would be slimming their own margins to compete with me down the track. The non buy and hold users are on our side. I really doubt the big banks really care about mobile devices costing a few c less per device, so I can't see them killing a commodities rise 'for the good of an unrelated industry' either. I think the people like FOFOA are correct. This is a fight for the very viability of fiat existence.
Each time PM hit a record high, the price will always come back down significantly. This is the case of commodity traders taking profits.
I read on a tech site (try to find link), that if silver increased to $150/oz, the cost of the average phone would increase about a dollar.
Thanks for the feedback.... If only it was the other way around.....If the average phone rose by a dollar, silver would increase $150/oz.....I could certainly buy a lot of phones then...lol..
