It's "unconfirmed", I read it myself several times between 2007-2009 but I have not found any articles with factual information to support the claim. On the same token I have not found any information as to where the confiscate bullion would have gone instead?, I mean it should have been held in some sort of escrow or evidence room while the disputed owners (the holders of the Liberty Dollar Silver Certificates) finished their class action to recover their metal. To me the gossip at the time that it covered Bear Sterns shorts seems more plausible else (where is the metal now?)
If I wanted wealth preservation in the truest sense, I'd get more gold. Silver is wealth preservation for me, because instead of having cash that could quite easily be spent on something useless (eg: new tech!), it's in metals instead.
Me thinks that someone saw your post and decided to use the end result to dictate prices, I was just on Bullion Bourse and they had a 10oz bar for $2,829...
I think that a big difference this time is that the "corner" is not being established by one group but rather hundreds of thousands of stackers world wide. As I see it it results in 2 interesting effects: 1) It will probably result in a slower take off as there are no massive single purchases to signal the market that there is a buy up in progress. (But if a single large purchase happened, and there was trouble in filling it... the price would explode). [edit: I was mixing tenses... ] 2) It is almost impossible to break that many people (at least in one go), even harder if they have not gone into debit to stack. This may result in a more rounded "top", or leveling off period, as it would take a while for silver to hit the market once stackers decided to sell... and we all have our own prices that we consider ok to sell at. At least that's the way I see it playing out.
The Greece debacle just started. The phase where people finally realised there may actually be a genu-wine default. I expect stocks to soon take another king hit and commodities to follow. Oh well, at least petrol is a little cheaper today...
is this that point after the dip, where it goes the other way and it's the best time to buy? I have no money left
he just seems nervous, it clear he doesn't want his customers cashing out. maybe he spent all the cash?
Hi all, Been reading and following this topic recently. Would like to jump into the silver bandwagon sometime in the near future. Just needed some opinions, what are the better options to buying silver. My initial thoughts, to trade through ETrade and buy Silver ETF. This would be more of a shorter term like 2-3 years. Cheers!
If you can't hold it you do not own it. Even the experts like Gerald Celente get burned (MFGlobal). I'm not saying you shouldn't ETF, but just be aware there are risks in everything you do. Do your self a favour and go physical
Seriously you want Physical, 2-3 years is not short term at the speed things are happening now. The spread for Physical Silver can be traded in a single day on the big moves so 2-3 years, then you WANT Physical. ETF's are not worth the paper they are written on, read the ETF prospectuses they admit they have to pay for storage costs etc. and most do this by selling or leasing the Physical Silver so even if it does start off as 100% backed (Most aren't anyway they hold "Silver Like Assets") then it can't stay that way anyway unless there is something dodgy going on to fund the administration/storage/insurance/compliance etc. etc. Next real big shortage / price spike in Silver I expect a lot of ETFs to go under. Listen to "thatguy" it's true, if you can't hold it then frankly you've got Sh!t Hope this helps !
Wanna say a big thanks to both thatguy and tozak. Just saw the youtube video of Gerald Celente talking about his 6 figures of $$$ wiped out by MF Global. And he really called them 'MF'. Guess should start looking into Silver Coins as the next possible option. Cheers All!