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182 Comments

Turd Ferguson's picture

FWIW

MODERATOR

Here's what I posted in today's Vault Post regarding this issue:

I don't usually respond directly to critics because, what's the point? We're talking about opinions and theories which, by definition, aren't provable. So if someone says "Turd's wrong" or "Turd's an idiot", I usually just leave it out there because I may very well be an idiot AND who am I to say someone else's theory or opinion is wrong? The very essence of theory and opinion is in the nature of it all. If something was proven and provable, then it is a fact. Until then, it's a theory.

I mention all of this because our our friend Bron wrote up something today that criticized me on all sorts of levels (http://goldchat.blogspot.com.au/2013/10/more-deception-about-comex.html). Whatever. There are too many things to dispute and I'm not going to elevate his opinion by responding publicly. But, here's the thing....

The CME releases Comex vaulting information that they themselves don't regard as accurate or complete. From this information, I make my assumptions. Others make theirs. And since all of this is deliberately opaque, NO ONE HAS THE MONOPOLY ON TRUTH. Not me and certainly not Bron.

(click to enlarge and read the fine print at the bottom)

Does Bron's theory make some sense? Yes! Of course it does. It's certainly possible that, over three days last week, JPM booked into their eligible vault exactly 10,000 kilograms of gold. Perhaps that they didn't care to assay and measure each individual bar they booked in suggests that the bars came directly from one of those overloaded Swiss refiners we've been talking about for over a year. (Here's a theory for you....JPM is taking in freshly-minted Chinese bars in order to satisfy demand because they can't get gold from anywhere else.) Regardless, Bron is suggesting his own theory for how the exact and precise measurements can to be reported and he is certainly entitled to his opinion.

The only problematic portion of this is where he takes a number of my points out of context and then attempts to utilize those points to discredit me. For example, I had no idea that "keep stacking and prepare accordingly" was trading advice. News to me. Whatever, in the end, people are going to say what they want and there's little I can do about it.

Ultimately, The Comex and the LBMA operate on a deliberately opaque and antiquated system that is doomed to failure. As this system crumbles, unallocated and pooled accounts will be exposed for what they are, too. Given this eventuality, perhaps Bron should spend more time worrying about his own house instead of casting stones at others.

buzlightening's picture

Time now on the side of the physical stackers.

Once you know the death of fiat and extend and pretend by the EEE, what beyond physical gold & silver in hand; holding it outside the bankstering gangtering system is a more go to substantial asset?  Everyone has their opinion and its all worth while to pursue any and all avenues from bitcoin to buying shares on the next mining project to jupitor or some dream mine.  (no reason to bring up all the absolute neccesities for economic life boats when the dead head feds cut the citizenry loose from it's EEE insanities!  We the people will be thrown overboard the USS Titanic faster than you can sink to the bottom of the Marianna Trench, in a three layered lead overcoat. ) 

I began stacking mainly silver eagles in Jan '08 to May '09.  Have purchased at periodic times since.  How long before the EEE has to run a dis-hoarding campaign to restock physical silver for the next assault upon price suppression is closer than anyone thinks.  Especially since you consider the May 1, 2011 drive by shooting of silver is now running 2 & 1/2 years.  Went through the smack down before as many others previous who are still stacking from the onset of the bull PM, which began 2001.  It's called long term investing.  Not easy get rich quick.  You can day trade your frns in and out daily for those thrills id you like.  Been there done that.  Last trade in paper mkts was June 13th 2009.  I went for a big all in paper chase on a Friday the 13th where I'd logged plus Friday the 13th up days previous 85%.  It was after many years of watching and waiting to get all the odds in my favor.  You could have done the same with any week where 9/11 was included and always had an up week on DJIA CALL OPTIONS for a decade thereafter with 95% in your favor.  I enjoyed a day trade rather than sitting on a week.  Haven't played the paper chase since.  Haven't missed it and neither do I care to ever re-enter the paper ponzi and take a run at beating the devil in disguise. 

Whether you began stacking at the top in April 2011 or when I did or previous or later down to today.  2 & 1/2 years from now you will be glad you hold 10 oz, 1000 oz, or more of PM's in hand.  Gold and silver real sound constitutional money always win against paper fiat currencies racing to zero.  When you're right sit tight.  Most can't.  Too bad.  I see the greatest transfer of wealth in the ponzi fiat race to zero happening suddenly overnight.  Others have it pegged as the 70's, where all comers will join the mania phase at much higher PM prices as fear runs rampant of losing buying power in dollars, euro, or any other hot aired currency blowing wealth out its arse; buying power day by day; week by week; month by month; year by year; until you've got nothin.  I'm going with a more sudden overnight financial iron curtian dropping down over the populas and getting trapped in paper assets which may only bring pennies on the dollar for the lucky few. 

Whatever way it happens it HAPPENS!  Guaranteed.  Relax!  Sit back and stack as discretionary funds become available.  For heavens sake take delivery  of PMs and step away from the market paper ponzi wiji board.  Paper gains are simply illusionary.  Rothschild elitist black royals set up the paper fiat mkt ponzi to make it so fantastic few would have power to back away; ever.  If you can't back away then you're possessed.  I was possessed for over 15 years and took heavy loses and gains but was smart enough to say it is enough once that Friday the 13th of 2009 passed and I had a profit.  I quit with that profit before the street could take it and it probably would have had I not stopped dead.  COLD TURKEY!  YOU'LL BE A MUCH HAPPIER PERSON WHEN YOU DO.  EXPERIENCE SPEAKING HEAR TURDITE FRIENDS!

I know it won't be 2 & 1/2 years down the PM road before we see mania, which will need be stopped; a panic buying so HORRENDOUSLY MONSTEROUS,  the histroy books written from the beginning til now won't carry enough room to hold all the pages of this impending, MILLENIAL, financial disaster in paper ponzi assets UPON THE GLOBAL PUBLIC. 

GREAT STACKING AND BE HAPPY!  Many will never get it until way too late!  Turdites are one in a million, who have the sense to sit tight and be right 100% guranteed. 

tyberious's picture

"keep stacking and prepare accordingly"

Let see Ive stacked:

1) Food

2) Water

3) Ammo

4) Water filter

5) FRNs

6) Relationships

7) Equipment

8) Education

9) A bug out plan

10) Informed others

11) PMs, which I did after all others

12) A sound mind and body!

ancientmoney's picture

@SilverRunNW re: 25,000 tons of stolen gold . . .

"I really don't believe that vast majority came from the confiscation."

-----------------------------------------------------------------------------

It really doesn't matter whether the entire 25,000 tons, or whatever amount the government held, was a direct confiscation. 

The government, in this country, IS the people; or at least it was at one time.  Therefore, all gold the government held was financed by the people, and owned by the people.

Remember Abe Lincoln's words:  " . . . government of the people, by the people, and for the people shall not perish from the earth."--from the Gettysburg Address, 1863

I think that government Lincoln described perished long ago.

buzlightening's picture

Bless your heart Turd

For your relentless, untiring work in informing the public about the great paper ponzi experiment.  Let the little dogs bite, as you'll never lose the real crowd who cherishes the truth.  Let us bull dogs behind the scenes carry out capturing your unlicensed rabbit dogs who turn up at the site.  I'd be happy to turn out a few in your defense for any troll here you prefer.  Just say the word and I'll put my energy into such while you work where you work the best.  Sifting truth from an avalance of EEE sewage; rank ball faced lies, ascending up forever and ever from an infernal pit of lost damned souls. 

tyberious's picture

RE: ancientmoney

Without trying to remake our entire system, we only need 3 amendments.

1) Congress and the Senate can only serve 1 term

2) All campaign funding has come from that state

3) A direct propionate presidential vote

Byzantium's picture

Bron

Yep, that was uncalled for. Bron could have made all his points under the headline 'More misconceptions about the Comex,' but instead used the word 'Deceptions.'

That is a clear personal attack. Unfortunately for Bron, it is also counter-productive; he is just tearing up his own prospects of being seen as an impartial commentator. 

buzlightening's picture

10 Year Yield 2.62% +0.08

Mind you turdite friends.  The TURD has focus where focus is beamed.  10 year bonzi's!   All else simply a smoke screen; white noise to an already broken bonzi mkt.  Those who know the drunk bond bubble and the derivatives behind them realize it's already falling apart as the global drunk men are thrown in the tank; killer dt's coming on with respect to passed hallucinations of once were grandeur; now a living hell.   dead head fed is buyer of last resort of bonzis world wide to float this franken bonzi mkt Some say 60% up to 90% bonzi buying for more time.  Dominoes falling and if you didn't read larry summer remarks on fed in a liquidity trap, a spokes person for the viper EEE just said there's no exit it.  Panic will ensue once the reality of what viper scummers said sinks in. Collapsing paper ponzi ASSets has been happening, is happening and will accelerate to KABOOOOOOOM! Sit tight.

ancientmoney's picture

@buzlightening, you sure have a way with words . . .

And, I mean that in a good way. 

Bonzi's!!  I always called them Ponzi's, but hey, what's a letter between friends?

LMR's picture

GATA addresses CPM's Allegations on Kitco

GATA Addresses CPM’s Allegations

GATA’s Bill Murphy is on Kitco News to give his rebuttal to CPM Group’s Jeff Christian’s allegations against whistleblower Andrew Maguire. GATA known for putting Maguire in the spotlight a few years ago, responds in this edition of “On The Spot.” Kitco News, November 1, 2013.

http://www.kitco.com/news/video/

ancientmoney's picture

SEC is great, current example . . .

of "government of the people, by the people and for the people."

Tyler Durden's picture

The SEC's Latest Scandal: Demands For Longer Lunch Breaks

There was a time when the only complaint the SEC's 4000 employees had was that some porn sites charge just too much - after all, the SEC's "enforcement" budget is limited, while the worldwide supply of pornography is virtually endless. It's time to add one more grievance to the list of all those overworked regulators who have yet to put someone, anyone, from the big banks in jail as a consequence for nearly destroying the western way of life, or do more than merely wrist slap Steve Cohen with a penalty that costs more than three or four Picasso paintings: lunch breaks.

buzlightening's picture

Just when you thought no silver shortages would ever arise

SDBullion has learned from industry contacts that the US Mint alerted its Primary Dealers Thursday that The Mint is halting its weekly allocation of 2013 Silver Eagles, and will be suspending all sales of ASEs for 4 weeks!

USMint

“The United States Mint will issue its last weekly allocation of 2013 dated American Eagle Silver Bullion coins on Monday, December 9, 2013.  We will begin accepting orders for 2014 dated American Eagle Silver Bullion coins on Monday, January 13, 2014.”

At the end of 2012, the Mint also took the unusual step of halting sales of 2012 Eagles on December 20th through the first week of January, which resulted in large premium spikes of ASEs as a shortage developed.  The resulting supply squeeze in Silver Eagles also resulted in a tightening of other official mint products (Maples and Philharmonics) as well as generic silver rounds and bars as Silver Eagle demand was forced into other products.

With silver spot prices nearly 50% lower than 2012 levels, and the Mint shutting down production 11 days earlier this year (December 9th), expect physical premiums on ASEs to jump significantly over the next 2-3 months.

We will continue selling 2013 Silver Eagles as low as $2.69 over spot at SDBullion as long as we can, but suppliers are warning that significant premium increases are imminent.
-Doc

SilverRunNW's picture

@ancientmoney

"It really doesn't matter whether the entire 25,000 tons, or whatever amount the government held, was a direct confiscation."

In a sense, I agree that it really doesn't matter.  Those historical facts are ones I use when trying to explain to the uninformed about what has happened in the past, and why they need to take action now.  It's best to be accurate on historical facts, lest someone call you on it and throw out your whole thesis, whatever that may be.

My goal wasn't to challenge you, it just made me curious how much might have been confiscated.  That just lead me to this, unfortunately from the World Gold Council, but hopefully it's fairly accurate. http://www.gold.org/download/pub_archive/pdf/Rs23.pdf

According to this WGC report:

1920 - 3679.29

1925 - 5998.19

1930 - 6358.00

1935 - 8998.00

1940 - 19543.30

1945 - 17848.00

1950 - 20279

1955 - 19331

1960 - 15822

1965 - 12499

1970 - 9839

1975 - 8544

There was a huge jump between 1935 (8998) and 1940 (19543).  So the confiscation happened in 1933.  How long did it take for the US Treasury to collect, count, and update their inventory, I don't know.  But that's a big jump!  So did it take 2 years for this gold to show up in the accounting, or does some other event account for this?  I don't know.  I didn't read the report yet, only looked at the table, and it may not say either.

IMHO,  looks to me like it was the confiscation and my thoughts of WWII rebuilding only netted 2,400 tons. 

So, in 1957 we had 20,312 tons of gold and after that, it was nothing but downhill.  The tables in the report aren't that granular until after 1950.  Prior, it only reports in 5 year increments.

buzlightening's picture

Latest Bix Weir. Tick Tock Kaboooooom

Everybody in the financial world knows what's about to happen...and they are openly preparing for the MOTHER of all CRASHES!
 
Central banks Make Swaps Permanent As Crisis Backstop
 
"Central banks in advanced economies from the U.S. to Europe and Japan said emergency currency-swap lines established during the global financial crisis will be made permanent, providing safeguards against future turbulence. "
 
This "swap window" will allow the fire hoses of money to flow freely very soon with every nation in the world trying to put out the FLAMES of the Global Monetary Implosion. If this flow of free money works to save the system you will see $10,000 gold and $1,000+ silver almost instantly. If it doesn't... I doubt gold and silver will even be traded on any "exchange" anytime soon as EVERYTHING in the electronic financial system will have been destroyed.
 
Should be a very interesting time for mankind.
 
I have laid out my Timeline for the events to unfold in the Friday Road Trip here:
 

Timeline on the Road to RootA

 
Watch for some more bank closure announcements very soon...maybe tonight?
 
May the Road you choose be the Right Road
 
Bix Weir
 
ancientmoney's picture

@SilverRunNW re: confiscated gold . . .

I would agree that a 10,000 ton increase happened between 1935 and 1940, after the 1933 confiscation.  This was likely payment from our allies for war materials prior to and into the start of WWII, as we ran a trade surplus in those days.

However, during this period, the Constitution had not been amended, and the gold taken in by the government was still the people's gold.  You seem to lose sight of this important fact. 

So, whatever gold the government had taken in, by whatever means, still belonged to the people, whose taxes were used to run the government, which government (in the U.S.) WAS the people.

Now, when the U.S. started running deficits in the later 1950's and 1960's and France and other countries demanded gold in exchange for the dollars they had earned, this was legitimate loss of gold.  It was legitimate because although stupid, the people who elected the fools who caused the deficits through popularly-accepted "guns and butter" policy, got what we deserved.

So, in reality, to be fair, it is the remaining, claimed 8000 tons that appear to have been stolen from the people.

SilverRunNW's picture

@ancientmoney

"However, during this period, the Constitution had not been amended, and the gold taken in by the government was still the people's gold.  You seem to lose sight of this important fact."

How you make this assumption of me losing sight on important facts is making a wrong assumption.  How you read into that, I have not a clue.  I just focused on the numbers.  Just because I didn't mention how absurd and precedent setting that event was, doesn't mean I "lose sight of this important fact.".

Sheesh!

ancientmoney's picture

@SilverRunNW re: my assumption . . .

"Just because I didn't mention how absurd and precedent setting that event was, doesn't mean I "lose sight of this important fact."

-----------------------------------------------------------------------------------

Fair enough.  I stand corrected.

It just seemed to me you were discounting the fact that all gold the government owns or ever owned was and is the people's gold, whether directly taken from the people's wallets, or via any other method obtained.

I now know I misread your intent.

Kcap's picture

JC accomplished NOTHING.

Motley Fool's picture

for those who care

'In total, only about 500 tonnes were “confiscated.”'

from

http://fofoa.blogspot.com/2010/08/confiscation-anatomy-part-2.html

Motley Fool's picture

OT

Those asians, they will save us, they will buy up all the silver and send the price sky high.

https://twitter.com/KoosJansen/status/396640434916966400

..or maybe not. :P

Motley Fool's picture

re: above

Nevermind. The above is skewed by chinese law that all mined and imported gold must be sold on SGE. This skews the data and no such inference can be made.

daveyboy's picture

So there are 2 things

So there are 2 things mentioned there, one is the fact that Jim Sinclair is now promoting a new exchange and urging said reader, or said listener to hold their metals outside of the U.S  at a bargain of only 5% per year. That is extortionate and is coupled with hyperbole, why the hell would the authorities want to confiscate? There are all sorts of antiques which people hoard which are far more valuable monetary wise and in fact should there really be a hyper inflation it will be all relative. There is no need to grab the Gold that is unless you really believe that the powers that be will be go back to a gold standard which to me appears like a pipe dream.

Secondly the point you are raising about JPM, who is the buyer of the short position? could it be that this is the internal machinations of banks? This point is one I am raising based on the supposition made that the intention is to hold down the price. If this supposition is true, then it would be a great psychological operation to play on the resistors who see this as the green light to buy silver and then 6 months later, 12 months later despair when the price goes nowhere. If you were to contrast this to 2010 and 2011, the hedge funds were piling into silver and even the little guy was playing the market riding the wave of up movement but then the margin calls crushed the gamblers and I am sure the hedge funds got badly burned. There have been a flurry of hedge funds which gone bankrupt in the last 2 years and whilst not inextricably linked to the metals, it does then dampen down the funds flowing into the market.

Which again takes us back to the physical, despite the realisation that even the public has that things are getting worse, people are more inclined to then hoard cash. The physical demand has not overwhelmed supply, something which we can see in both the availability of the metal (silver) and in the very low premiums. When an anonymous source reports that x refiner is out of silver, it only serves to deflate the hype as people have heard it all before. It's not inflation when people's incomes are being sucked dry and their pension funds being raided. Yes, we have had an increase in price in foods and energy but the former especially is also in an obvious bubble. That is not to say that it is a bubble which can't last for some time of course and meanwhile with additional taxes being piled on top, there is even less disposable income.

As for America losing it's world reserve currency status. there are so many dollars out there worldwide that it's going to take years and years, perhaps a decade? for the brics to be in any kind of a position to simply dump the dollar. I am just throwing a number out there but even Jim Sinclair says the great reset won't be until 2020 and I look at his agenda and realise that he will promote what he wants his listeners to hear.

Even at the more positive end of the spectrum, we are probably looking at finishing the year below $20 and even if the cost of production continues to rise and we have a relatively strong rise of 10% then we will probably finish 2014 at a little over $24. I have listened at nauseum to Jim Sinclair, Martin Armstrong, Jim Willie, David Morgan. The latter of which predicted a rise to $26 but clearly he is retracting even if not directly when he displays an article written by an analyst who forecasts a possible fall to $15. I don't think the downside will amount to that but I just don't see a lot of upside in this market either. This bear market continues and it is what it is, any investment is a risk and any weak currency can become considerably more weakened. Those who swapped rupees for Gold appreciate the security that brings, once again the difference between a hedge and so called true money.

Interestingly Sincalir says 3500 in a decade, Jim Willie says 7,000, Max Keiser and Martin Armstrong say 5,000. Sinclair then suggests 50,000 but that is a meaningless figure if there really is hyper inflation but I think that the notion of hyper inflation is baseless. Hyper inflation was meant to take hold in 2011, then in 2012, then in 2013. If you look at the velocity of money it's actually going lower so despite Mr Williams insistence, I am going to say he will be absolutely wrong yet again. The problem is with many of these forecasters they can't take back what they have already stated and look to either cover up their spectacularly failed predictions or simply never mention them again.

Having said that of course, let's take that 3,500 for what it is, a rise of just over 10% a year, that could come to fruition. What is bemusing of course is that if silver takes a similar path then from where it is now, that will put it around $50 in ten years time (admittedly this doesn't take into account of rising production costs) but for arguments sake let's assume another $20 rise on top. Which will bring silver to $70 and while you may challenge this as conjecture, then indeed it is, but so are the predictions provided by the many. Mike Maloney for instance uses the supposition that silver will rise because Gold will be perceived to be too expensive.

Now, you could use this as a contrarian indicator and cite the fact that such lack of enthusiasm indicates that a move is just around the corner but I would suggest that you know that the bull is dead (in a velocity sense) when traffic has crashed on this site, even when silver sales in America have started to fall in recent months. Granted, they are still quite strong but they don't really tally with panic and my thesis is that a slow and inevitable path downwards has been accepted, the likes of Chris Duane's meme of a new group of people (silver buyers) will emerge after the shadows have been lifted has been dismissed and now steady buying accompanies silver on a monthly basis as the core buyers continue to purchase as insurance.

Still, 10% is a good growth figure, but we are starting off now from such a low that the 10% is somewhat optimistic, it may be in later years that it averages out to the 10%.  This is why most of these so called analysts I just tune out or view as entertainment purpose only because a lot of what they are blowing is hot air. This either feels like desperation on the side of some of these in the silver market or they have disseminated stories about the u.s mint running out of blanks to cause a quick flutter which is followed by the rebuttal which further discredits them. I still don't know which one is more likely but when you have the son of Rothschild's stooge being held aloft as a champion of the cause then I would favour that the operation is to largely discredit.

As a final note, I am pretty sure that Jim Sinclair did not voluntarily step out at the beginning and explain his family's ties between the Rothschilds and his family. That admission has likely only come about because of the research which has been done into him.

bronsuchecki's picture

Theory and opinion

"Bron alleges that because the Comex allows vaulting and delivery of 1-kg bars, that it's possible I'm dead wrong and that the numbers posted last week are all accurate and true."

My post did not claim that the Comex numbers were true ie were those real amounts of physical metal delivered. My post was that you couldn't conclude this, or prove it, based on your assumption that the figures were "statistically impossible".

"theory for how the exact and precise measurements can to be reported and he is certainly entitled to his opinion"

It is not a theory, nor an opinion, that Comex allows 1kg bars and therefore the figures you thought were "statistically impossible" are entirely possible. Your whole post was how the impossible figures proved the Comex deliveries were "bullshit". Given the figures are possible, nothing was proven.

"continued to add comments to a thread that's over a week old"

My comment about Comex allowing kilo bars was posted to the article 1 day after the article. I did not say anything rude about you, just offered it as a fact. All I was expecting was something to what Bill Holter said at "I did not know this and have never heard of kilo bars ever being delivered from COMEX. If true then my apologies." and "OK, so the figures don't prove the deliveries are bullshit but my opinion is they still are."

Because you did not respond I saw another false meme being created about proof of bullshit deliveries, which is why I posted on my own blog.

"perhaps Bron should spend more time worrying about his own house instead of casting stones at others"

We have nothing to worry about at the Perth Mint as we don't engage in fractional reserves. It would help our business greatly if the fractional bullion banking system collapsed as we'd sell a lot more physical and get a lot more safe storage business. I've been talking about fractional bullion banking since 2010 http://goldchat.blogspot.com.au/2010/04/london-unallocated-fractional-fubar-or.html

However, I don't let my personal preferences cloud my objective analysis of the bullion system and the reality of how it operates and whether it will last. My current theory is that bullion banking operates under a "free banking" type model and thus runs a higher level of reserves than many think and will therefore need a serious bullion bank run before it will blow up.

Spartacus Rex's picture

@ Bron - Theory & Opinion

Say Bron, you're a pretty resourceful guy, how would someone get a copy of each of the serial #'s of those 6 Tons of kilogram bars which JPMorgue miraculously pulled out of its back pocket and supposedly "delivered"? Gee, wonder if the Comex has any pictures of them as well? wink

Turd Ferguson's picture

Hi, Bron!

MODERATOR

Unless I am again uninformed, your company does, in fact, offer unallocated and pooled accounts.

Regardless, as it pertains to your original point, maybe you're right, maybe you're not. No one knows for sure. If you're expecting some type of apology where I grovel at the altar of Screwtape for forgiveness, it won't be forthcoming.

Response to: Theory and opinion
vonmises's picture

Silver Is Correcting To Near

we should see a push up to near 25-26 followed by a substantial move down to well below 19

http://bullandbearmash.com/chart/spot-silver-monthly-still-correcting-up-under-wave-4-resistance-near-25-to-26/

nothing wrong with owning "phyz", but price is high

bronsuchecki's picture

maybe you're right, maybe you're not

TF, which of these do you think are facts and which are opinions one could be right or wrong about:
1. Comex rules allow for 1kg bars
2. A 1kg bar weighs 32.15oz
3. 32.15 x 6000 = 192900
4. 192900 is therefore not statistically impossible

I'm not looking for an apology, but I think given the above facts, your original post requires a note to inform future readers that while you think Comex stocks are "bullshit", the round 192900 figure is possible and can't be used to prove the stocks are "bullshit".

You are correct, the Perth Mint does offer unallocated and pooled allocated. As we are not a bank, don't lend gold and those accounts are fully backed I'm not sure what your point is.

Turd Ferguson's picture

It's not statistically impossible. It is however, unlikely.

MODERATOR

It's not statistically impossible. It is however, unlikely.

A more interesting angle, if you're right, would be why is JPM taking in 7,000 1-kg bars into their eligible account over three days in October? We can save that for another day, I suppose. Only worth the mental energy if we knew for certain that the numbers reported were factual and accurate and actually represented 7,000 1-kg bars, not just simple bullshit.

As for amending the post from two weeks ago...trust me, it's not worth the effort. Hardly anyone bothers to read posts older than about a day, myself included. You seemed to get all worked up because I wasn't responding on a thread that was several days stale. Next time, if you want to reach me...fast...try email, instead.

bronsuchecki's picture

The point of your post was

The point of your post was that you had found proof and "knew for certain" that the numbers reported were false because the numbers were statistically impossible. That is what is wrong with your post.

While your readers may have moved on, they now believe that you proved the numbers were false. They will then offer this up on other forums and blogs as proof in the future. People who search google for CME gold stocks report will read your post and believe you proved it. It will get repeated and become accepted as fact that the delivery figures have been proven as false.

What disturbs me is you don't seem to care about correcting this, that you are happy to have people think your opinion the delivery figures are false is a fact when it is just an opinion. You talk about the cartel being "deliberately opaque" but by letting this ride you are showing you don't care about an informed market and facts and making sure people are clear about what is proven facts and opinions.

Turd Ferguson's picture

Bron, you're exhausting

MODERATOR

In case you didn't notice, here's a reminder. The post that has you so concerned began this way:

"This latest move is so brazen in its audacity, even I am stunned. But, since no one else is talking about it, maybe I'm just crazy. Let me lay it out for you and you can decide for yourself."

So, where you get the idea that I'm misleading people with facts and proof is beyond me. I'm just a guy with an opinion and most people realize that. From the public disclaimer on TFMR:

All content at this website http://www.tfmetalsreport.com is presented for educational and/or entertainment purposes only. Under no circumstances should it be mistaken for professional investment advice (because it is, most assuredly, not), nor is it at all intended to be taken as such.

The commentary and other contents simply reflect the opinion of the author alone on the current and future status of the markets, various economies and world events. It is subject to error and change without notice. The presence of a link to a website does not indicate approval or endorsement of that web site or any services, products, or opinions that may be offered there.

That said, I suppose you have a point. Though I don't make it a practice to include other's opinions in my post, in this case, I'll make an exception. Give me a minute and I'll posthumously include your opinions as a counter-balance. Perhaps you might also consider editing your post for the factual errors included such as claiming that "stacking" is "trading advice". That sounds curiously like a deliberate attempt to disparage my site and my business...but I digress.

Thanks again for all your input. 

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