[HonestSean]

Serpo,
what seems to escape people who aren't familiar with COMEX, GLD, LDMA, Mumbai etc., is this: all rumors of "collapse" are simply a tool of fear mongering.

These are CONTRACTS. Contracts that are unilaterally written to favor the HOUSE under all circumstances, aka the counterparty.

The house always wins in these markets, name the market.

Collapse is not going to happen on the part of the counterparty holding the inventory, paper or physical.

Instead, every conceivable--FINE PRINT INSTANCE--is covered, in advance including:
--a force majeur declaration,
---an Act of God clause,
-----total subordination post original contract language such as Germany has just done to Greece,
------outright theft/embezzlement/re-hypothecation "error"
--failure to perform,
---redelivery certification,
or any other instance where those who HOLD THE GOLD, SILVER, WHEAT, RICE, ORANGE JUICE, SUGAR, COTTON, etc., find themselves in a "performance corner"--
THEY ALL can and will be settled IN THE FAVOR OF the house, usually with some kind of "negotiated" (read that litigation) type of cash settlement "option."

All else pay cash or with their knees, their loved ones, or their lives.

Truly...when the fear has been ramped up as much as it has, and people have been deliberately herded into Precious Metals "ownership" via derivatives, the contract buyers cannot enforce the contracts' physical delivery clause against any counterparties' inventory of the specified physical commodity identified in the unilateral contract.

The only enforcement option of the contract is available to and by the bourses, LDMA SILVER INCLUDED, who have the metal or the clout. Doesn't much matter which.

They will get whatever gold/silver the people bought, or think they bought.

One only needs to look back at Celente's outright theft of his profitable and OOOOOOLD Gold profitable positions--which he did not take physical delivery of. Yes, the MFG Bankruptcy trustee unwound the months' old futures contractS in the COMEX warehouses' system, actually identified and registered to Celente' when MFGlobal went down here a mere few months ago, if one wishes to dispute this particular point.

Capiche'?


beefsteak

[Thorwaywhobia]

this might be the warm-up for a major move, but, it's only 10%. from $28 to $30.80.

for silver that's not a huge move.


i agree, Silver for $30 an ounce is still a good deal.

[mralabama]

The coat and ties know know that paper PM is only false hope and that( "When you don't hold it, you don't own it"... Ponce)
physical holdings is the only way to go......only problem is that in the future the coat and ties will still have their PM's while the little guys have no choice but to sell theirs in order to survive, as you know the last tremester there was 14% less silver out of the ground and with the US now in the game silver will become very valuable not as money but as a means of doing business...
Don't think of PM as money because they are beyond money and in a world of their own......it has been that way for a very long time and it will remain so for a very long time...by the way, silver was "money" before gold.

To me that in the future silver will be more valuable than gold for many reasons....for one there is less silver than gold and also because every day they are finding more and more uses for silver there will be less and less of it as time goes by.

You will have a bright future is you use silver as your guiding light.

[Espacamlisa]

Did you notice that George Soros sold his bank stock and bought 'gold'. The media says he bought GLD, which is paper gold. If that's the case, Soros needs a lesson from Ponce. The one in his sig line.


Hatha

[formobilagsw]

Did you notice that George Soros sold his bank stock and bought 'gold'. The media says he bought GLD, which is paper gold. If that's the case, Soros needs a lesson from Ponce. The one in his sig line.


Hatha

If soar-ass bought physical, you wouldn't know it anyways. Why would he let anyone know that?

[HonestSean]

If soar-ass bought physical, you wouldn't know it anyways. Why would he let anyone know that?

+1, SoG.

GLD "ownership" is basically a parking money vehicle employed by traders who don't want to take physical delivery. As the old saying goes, many reasons to sell, only one reason to buy. He's capturing Short Term "anticipated" oaper share price appreciation.

Georgie is an insider's insider. He treats GLD as a type of escrow account for parking hedge funds for reasons known only to him.