Unlike Exxon-Mobil, BHPB, Microsoft etc shares and unlike industrial commodities, people stack physical precious metals for reasons OTHER than mere speculation. Among others, there are survivalists (in various degrees), sound money advocates (of various types) and numismatics and the type of information they are after and the reasons for wanting physical precious metals are completely different to wanting shares in a company or to trade the futures market. Nominal capital price growth is merely an upside but irrelevant (and indeed there is a lot of commentary around actively expecting to have nominal capital losses from their physical). If you are not one of these types of people then I find it strange that you even want physical metals. If you are a gambler trying to beat the market then go trade paper. Some people seem to do quite well and have successfully transitioned from being gamblers to being traders. These traders do not treat their paper investments in the same way as their physical holdings and nor should they because they serve completely different purposes. Most (but certainly not all) of the commentary is around people wanting physical and most of these reasons have nothing to do with trying to put some of your superannuation into a 7% dividend yielding asset which has the potential for capital growth. If you want to "invest" in something then stay the heck away from physical precious metals and stop bitching about them being a misguided/bad "investment" because they aren't the same thing. They're lumps of frickin metal that sit there and accumulate dust (which is actually one of their strengths). If you want to speculate then there's a paper market for that and I guarantee you'll find a shite load of misguided fools selling you software, courses and newsletters telling you how you can get rich trading the futures markets in a plethora of commodities (not just silver and gold).
Everyone has vested interests. Whether they realise it or not. There is no such thing as completely unbiased commentary.
The reason why people say "strong hands,i haven't lost any ounces,crimex,manipulation,disconnect, and a hundred more." Currently traded today future silver contracts = 23.29 million ounces thats in 5 hrs ... Regularly you see more then the entire worlds entire silver supply traded in a day via paper ... How can you trade about 5% of the entire worlds yearly production of silver in 5 hrs something has to be up surely these silver contracts aren't backed by physical silver
There are about 750 million ounces of silver mined per year with another 250 million ounces recycled. That represents about 1/10 of the available silver stockpiled in the world. Add to that about 10 ten years of futures contracts, say 7,500 million ounces, we have about 1,000 million (this years) + 10,000 million (stockpile) + 7,500 million (futures) ounces to play with, a total of 18,500 million ounces. The 23.29 million ounces of silver traded in an hour represents about 0.1% of all past/present/an future silver on the books.
I quit these forums ages ago because I got bored of fighting all the perma-bulls who regurgitate the same stuff over and over again, stuff that they watched on youtube and from sites whos sole purpose is to sell you silver. I didn't see much difference between them and property spruikers. It's amazing how sentiment at this forum can change so much once the price of PM's went down the tubes. I also got bored of arguing with people about the importance of diversification. Markets are inherently irrational with all the fiddling by the governments and what not, but markets can stay irrational longer than you think. Hate on share, bonds or cash all you want, but if you aren't in it, you can't win it. Learn to diversify.
That has a quite simple answer: by trading the same silver more than once. Volume just measures the amount times a contract changes ownership. If you and me buy/sell from/to eachother 5000 times a day a futures contract of 5000 ounces, we have generated a volume of 5000 x 5000 := 25 Moz. While in fact, it was all just the same 5000 ounces of the futures contract. High frequency trading, is a name for it. The thing is, I'm sure all those on Zerohedge / Silver Doctors and many other market-aware people know this. They probably trade futures themselves. Why do they then compare in their articles silver supply with trading volume? Simple: misleading. To make you believe that 'paper' isn't backed by silver. To make you believe there is shortage looming. To make you believe the price will explode, the Comex will default and all that other crap. Why? Also simple: vested interest. In reality, they are those that buy futures positions but never ask delivery. Simply because silver wasn't their goal, only dollars from others for free. As some1 here said, everybody has a vested interest. That's quite true, but there is a difference between telling people lies / mislead people, and promoting to buy silver simply for the same reasons you do yourself.
its a good time to be buying those cute little poured bars. silver is cheap, and looking at the recent high, it is a very good price. the industrial usage has not drop in any big way. youtube silver channel are there to entertain
