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Guess who is running low on Silver! - Page 2
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Thread: Guess who is running low on Silver!

  1. #11
    chux03 Guest

    Arrow Silver Price Moving Away From Futures Market??

    From Vincent Bressler's latest column right here on SilverSeek:

    While the price of silver in the futures market was falling by 17% this week, coin shops all over the country were running out of silver. We are witnessing a disconnect between the financial markets and reality. In the financial markets, the silver shorts hold all the cards: 1) They have a virtually unlimited check book from the FED 2) They can influence the futures exchange to jack up margin requirements when the price is falling rapidly, but not when it is increasing rapidly 3) They can changes the delivery and trading rules on the futures exchange. The longs in the futures market have none of these advantages and they are being driven into bankruptcy by the shorts. We are approaching the point where the only longs that still exist are those who intend to take delivery. At this point the futures market becomes irrelevant. People who went to their coin shops today were told that they have to pay now and can take delivery in two weeks. I'm wondering if that delivery will ever happen at the low price quoted today. The lower silver goes on the futures exchange, the less likely that the exchange or coin brokers will be able to deliver based on the phony COMEX silver price.

    A futures contract in silver is becoming a financial asset with a tenuous connection to silver itself. I expect that the price that you have to pay for silver at your local coin dealer is about to start moving up up and away from the futures market price for the next delivery month. In fact this is already starting to happen. The next delivery month on COMEX is May. It is entirely possible that we will see a run on the COMEX silver supply in May and a default if enough longs decide to take delivery. More likely, under this circumstance, COMEX will simply change rules and enable payout of long contracts in dollars. Either way it will be the end of the futures market as a price discovery mechanism for silver and the end of cheap silver.

  2. #12
    Join Date
    Mar 2008
    Posts
    5

    Default

    I Phoned My Silver Dealer (ainslie In Brisbane Australia) & Asked When I Can Expect To Be Able To Purchase Silver Again, The Response Was Give Us One Month. We Have Just 3kg That Came In Today. You Could Buy Everything From 1000 To 1 Oz Bars Just A Few Months Ago.
    Regards
    Ltf

  3. #13
    Join Date
    Mar 2008
    Posts
    1,490

    Default

    I've only gotten involved in the metals market since the beginning of the year. Mainly because I was not aware of the facts and opportunities that were possible with these investments. But, I was actually surprised how many investors are what I call "doomsdayers" whose anticipation of calamity actually reveals their underlying greed and their "hooray for me, and to hell with you" attitude which in reality puts them in the same category as the investment bankers with the same type of attitude that got us all in this mess to begin with. Panic never did anyone any good. It only breeds more fear and irrational thinking which, if allowed to continue, could end up in outright rioting and carnage. Let us all relax and enjoy our ride, and encourage each other. Fear is the real enemy.


    As far as shortage, that's a given in silver already, but another factor during the recent dip should be considered. When the spot hit the $20 level, alot of financially desperate people were bringing anything silver they had to the coin dealers. Very soon afterward, the spot dropped to below $17. Do we really expect the dealers to be anxious to sell now the substantial amounts they accumulated during the peak and take a significant loss? I think I'd sit on it awhile...


    And just to say a word for NWTM. I've place 4 orders with them in the past few months, and all were shipped by the wait time I was told when I placed the orders. In fact, the last order I made, purchased during this last dip, shipped within a week. And no, I'm not affiliated in any way with NWTM, but I am a satisfied customer.

  4. #14
    Join Date
    Jan 2008
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    Fly-over country, South Dakota. The heart of the USA
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    1,404

    Default Boatload...

    Of crap,
    How does one looking out for one's own wellfare even BEGIN to compare with the HUGE GREEDY powers that be MANIPULATING the silver market directly and purposefully with the ONLY concern being the lining of their pockets with ILL GOTTEN GAIN?
    Intent counts here. These BANKERS are out to hurt others for their gain. We are just trying to fight to get a little back.
    Doomsday or not I cheer for ALL who can take advantage of the recent purchasing opportunity. Be dilligent and pursue your goal.
    We can't save the world, only ourselves.
    JesterJay


    Quote Originally Posted by hiyosilver View Post
    But, I was actually surprised how many investors are what I call "doomsdayers" whose anticipation of calamity actually reveals their underlying greed and their "hooray for me, and to hell with you" attitude which in reality puts them in the same category as the investment bankers with the same type of attitude that got us all in this mess to begin with.
    If you don't GOT it, You don't GET it!

  5. #15
    Join Date
    Jan 2008
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    Fly-over country, South Dakota. The heart of the USA
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    Default Sorry about that last post...

    More to the topic of this post, I find that dealers are selling all silver coming in that they can make money on. However, there may be some "expensive" stuff they are holding 'til they can make their money back.
    My BIG dealer an hour away just eats the loss (since it is so rare) and I actually saw the sales ticket at my local coin shop for the stuff I bought 2 weeks ago. He paid 18 cents more per ounce than I bought it for. We all laughed about it and he said he'd give me a call the next time he wanted to loose money on a silver sale.
    Recently, as in the last few days in a row, I have gone in later in the afternoon and either been able to buy from a recent deal he made or been able to wait for the guy in front of me sell him the gold and silver so I could buy it right afterwards.
    I am almost tempted to place an add in the paper. "Spot paid for Silver!".
    It is out there- just keep looking
    If you don't GOT it, You don't GET it!

  6. #16
    Join Date
    Mar 2008
    Posts
    1,490

    Default

    I take the blame for not making myself clear what group of investors I was referring to, and I do agree with jesterjay in his comments. Most of us are only trying to preserve what we can for ourselves and our families. The group my comment was aimed at are those who ignorantly believe they are going to get rich off this thing, and who look forward to the collapse of the economy. These are the ones who will shout and dance for joy, ("ha haaa, I told you so! ain't I smart?!"), when silver and gold skyrockets, not realizing the consequences that are about to fall upon our nation and most of the world. Unlike us who will weep and travail, knowing that mass hysteria, rioting, looting, and starvation is at hand, and it will be very difficult to find a safe place.


    and yes, I also agree, it's out there. But I think a bit of it is in "hiding" right now.

  7. #17
    Join Date
    Mar 2008
    Posts
    7

    Cool My local coin shop is also running low.

    Quote Originally Posted by webmaster View Post
    Subject:Guess who is running low on Silver!
    By: Jason Hommel, Silver Stock Report

    Overview: I've heard that 4 major coin shops on the West Coast of North America were out of 100 oz. bars yesterday; Amark, the largest distributor for Johnson Matthey in the nation, and Tulving, and two dealers in Vancouver. If you include NWT Mint's delivery delays, that's 5. Anoter man emails to tells me that a coin shop in Surrecy, BC is sold out of 1 oz. Silver Coins, and that their phones are ringing off the wall for orders and they can't fill orders for lack of silver.

    Link: http://news.silverseek.com/GoldIsMoney/1205981676.php
    I just bought another 500.00 worth of one ounce silver bars and a few liberty dollars yesterday and another 10.00 roll of silver quarters and my dealer (who I have been buying from for years) told me due to shortages from his suppliers, as of the middle of the week he is raising his prices from .50 over spot to an extra .30-.50 cents an ounce. Which is really still a good price compaired to what most dealers are charging.

  8. #18
    Join Date
    Jan 2008
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    Fly-over country, South Dakota. The heart of the USA
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    Default Gotcha, who would revel in national trauma?

    Thanks for the clarification Hiyosilver,
    I am glad you are in the same camp as I.
    Perhaps there is a bit more than we think.
    I just bought 32 ounces of miscellaneous rounds at my Local shop after getting a "NO GO" from my hour away shop who is better to deal with for large purchases. The local guy sold me the 32 then said he was now out. He proceeded to tell me he had sold some Expensive Eagles earlier but had trouble getting silver. Called dealers, etc., blah. yammer.
    I then told him I was looking for Eagles in quantity. He got a determined look on his face, paced over to his safe, flung it opened and grabbed a roll of mixed Silver American Eagles in the Mint tube for me.
    "How much?"
    I need....(check internet, calculate, look again, calculate some more)...$19.
    "I'll take 'em."
    I'll have 50 more ounces later tonight, about 8 or 9 o'clock.
    "See you then."
    It trickles in,
    JesterJay
    PS- Why the HELL is the price still going down. A bit sideways-ish I would understand. But we are going DOWN.
    Reality does not apply to the SPOT market. Eventually it won't apply to buying in coin shops/dealers either. They will reject the Manipulated price and charge Ebay prices. They are already having to pay extra just to get silver (especially Eagles) in the door. Our parallel Silver market is about to develop.


    Quote Originally Posted by hiyosilver View Post
    I take the blame for not making myself clear what group of investors I was referring to, and I do agree with jesterjay in his comments. Most of us are only trying to preserve what we can for ourselves and our families. The group my comment was aimed at are those who ignorantly believe they are going to get rich off this thing, and who look forward to the collapse of the economy. These are the ones who will shout and dance for joy, ("ha haaa, I told you so! ain't I smart?!"), when silver and gold skyrockets, not realizing the consequences that are about to fall upon our nation and most of the world. Unlike us who will weep and travail, knowing that mass hysteria, rioting, looting, and starvation is at hand, and it will be very difficult to find a safe place.


    and yes, I also agree, it's out there. But I think a bit of it is in "hiding" right now.
    Last edited by JesterJay; 31st March 2008 at 19:48. Reason: Cuz' I can't spell "develope".
    If you don't GOT it, You don't GET it!

  9. #19
    Join Date
    Mar 2008
    Posts
    42

    Default

    Parallel silver market? Sheesh.. where is that rat cunning billionaire when you need him, the one who can vacumn the loose silver up and watch the paper shorts start diving for cover.

  10. #20
    Join Date
    Jan 2008
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    Fly-over country, South Dakota. The heart of the USA
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    Default Calling Mr. Buffet,

    Where indeed.
    JesterJay


    Quote Originally Posted by elixer View Post
    Parallel silver market? Sheesh.. where is that rat cunning billionaire when you need him, the one who can vacumn the loose silver up and watch the paper shorts start diving for cover.
    If you don't GOT it, You don't GET it!

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