12:50 EST update:
Keep your fingers crossed on silver. Above $29.25 and you'll have your highest close since the brutal beatdown of last Wednesday and a real poke in the eye of Blythe. $29.24 last.
Its now 1:30. I've got $29.32 and, at $1386, we've closed back above the 20-day moving average in gold. Eat it, Blythe!
Yesterday, I received a note from Steve in the great state of New York. Attached was a link to an interview of Harvey Organ that was posted two days ago. You must take time to listen to this!
Again, The Turd is not Harvey nor is he the interviewer. The Turd has absolutely no connection to either of these gentlemen or their sites. The Turd and his readers simply scour the internet for nuggets of information to which you may not currently be privy. In this instance, Turd 100% agrees with the observations of the interviewer and, of course, Harvey. You need to learn, know and understand what is discussed in these clips.
Presented in two parts, here is a link to part 1:
http://www.youtube.com/watch?v=B7eRwW34j1g&feature=player_embedded
The link to part 2 pops up at the end of part 1. Sit back and listen. Then take a few moments to decide how you will survive and profit. I am reminded of Mike Burry, who you will recall from the great Michael Lewis book, "The Big Short". By mid-2005, Burry was so utterly convinced of the fraudulence of the CMO market that he was willing to stake his entire reputation and fortune on its ultimate downfall. When everything finally collapsed in 2008, not only was he professionally vindicated, he was wealthy beyond his wildest dreams. Burry could see the truth that no one else was willing to recognize.
We stand on the same threshold today in gold and silver. We will continue to be mocked by the financial media and we will always be harassed by the Evil Empire. However, in the end, we will win. Truth will prevail. We will be vindicated.
Wow, what an amazing guy. Although I still can't decide whether it's better if he's right or wrong...
ReplyDeleteThat's a heck of an interview. Big fan of Harvey's. Thanks for posting that Turd.
ReplyDeleteLooks like silver silly time, BOS rendition, on tap now.
ReplyDeleteCould silver's very attraction (scarcity and usefulness) ultimately mean that it will lose its place as money when a future real-asset-backed currency emerges? What I mean is, why would anyone accept it as a store of wealth or money if it hardly exists?
ReplyDeleteBreakout imminent. Fasten your seat belts.
ReplyDeleteThanks for the interviews! I have been planning on buying some silver with my Christmas bonus (good year) & been told that buying from Kitco Direct has it's goods & bads. I have been buying a yearly Liberty Silver Eagle uncirculated since 1986 (for my son), but that was thru the US mint. Now I think it is time to purchase some insurance (100 coin min.) Is the Kitco site a ok place to buy or does anybody recommend some place better? I looked at ebay & all the coins there are $5+ more than the Kitco site. Also trying to get my retired parents to purchase some gold instead of holding all paper assets....
ReplyDeleteThanks in advance for any input
I am posting that interview all over the place. Mish was my first stop.
ReplyDeleteBay of Pigs
I'm interested in opinions of GG's question also. It seems it could lose it place as money, but scarcity and usefulness would still seem to push it much higher in the future. Fractional gold is much easier to do now than it used to be.
ReplyDeleteCan someone please explain to me the difference(s) between SLV and PSLV???
ReplyDeletehey jjlhunter...you might check out JH Mint in northern Calif...they ship and insure...see their website.
ReplyDeleteHey guys - I just painted myself like Mel Gibson in Braveheart - nice Ag tints - and I've been practicing my warcry for hours.
ReplyDeleteKeep 'er steady, stay salty boys!
Another way to ask my question is, might silver just be reserved for industrial use, leaving gold as the only real money? Gold is,after all, not so useful, but is universally known, can't be printed (sorry Ben!), durable and downright beautiful. Sure, silver would likely become a very expensive industrial metal in such a world. Interested to hear any views on these ponderings.
ReplyDeleteGG: you may have just answered your own question...
ReplyDelete@dd. Nice call!
ReplyDeleteHard to imagine Blythe is not going to attack again soon.
Drew: SLV is a fraudulent, empty-shell etf which has, as its custodian, JPM. PSLV is the Sprott Physical Silver Trust and it owns actual silver.
ReplyDeleteTerrific interview. Harvey knows his stuff.
ReplyDeleteThe EE is in deep doo doo of their own making.
For buying physical silver or gold check out Northwest Territorial Mint out of Auburn, Washington. http://bullion.nwtmint.com/index.php
ReplyDeleteI have ordered many times from them with no problems. Call them up, place an order, send them a check (quoted price includes shipping & insurance), and wait for delivery. Delivery times have stretched out due to high demand. Used to be 3 or 4 week wait time. 8 weeks is typical now. I mostly buy the silver rounds -- much better price than government mint coins.
On SLV versus PSLV.
iShares Silver Trust (SLV) is a potential rip off. They may be levered up many times paper to actual physical metal. The fund custodian is JPM – the same Bullion Bank that is massively shorting the silver market on the COMEX. Steer clear of this fund.
Sprott Physical Silver Trust (PSLV). I am more comfortable with them. I own shares of PSLV and PHYS (Sprott’s gold fund). Also own CEF (Central Fund of Canada). All 3 funds by physical metal and are not levered up. You need to watch out for Follow-on Offerings (issuing more shares) with Sprott. You can take a hit in share price when they sell more shares. Right now PSLV’s Premium to NAV is 12% (high). I’d wait for them to announce a Follow-on Offering and then buy immediately afterwards.
Can you give me some insight about this please? I have several Canadian Mining stocks that I bought through Scottrade but could not buy the Toronto exchange symbol for them but had to buy a NYSE symbol or over-counter bulletin board symbol. The Toronto version of the stocks seem to be performing better. One example of this is First Magestic which is AG on the NYSE but is FR on the TSX. AG is at $12.50 while FR is at $12.82. Am I doing this wrong? Do I need to find someone to sell me the TSX stocks?
ReplyDeleteon AG: TSX prices are in CAD. NYSE, USD. That is the only difference.
ReplyDeleteJP: Thanks for the reply. I forgot to mention. The AG dropped 3.29% today while the FR dropped 2.85% totday. Do you know why that is and should I be concerned because I am noticing that consistent with all my Canadian stocks. Canadian Zinc is another for example.
ReplyDeleteBlythe placed an order with Northwest Territorial Mint in November. The latest word Blythe receives is that deliver is now scheduled for March, 2011. Blythe is not too happy about a four month wait for her physical. Of course, since Blythe has inside information she managed to buy at the bottom of the last dip, so perhaps NWTM is delaying Blythe's shipment in hopes that she will just cancel the order out of exasperation.
ReplyDeleteBlythe doubts she will buy from NWTM again.
rmc - I've been watching AG as well. Something has changed since their listing went live on the NYSE. I'm not sure what it is, but I expect that it will be back to it's rising star status within a few days. Listing in the US has not been a good for the few couple of days.
ReplyDeleteJH MINT in northern California has in stock silver and gold...orders over 500 oz silver include shipping and insurance...they tell me there is no wait other than your bank transfer hitting...call them and see for yourself...just spoke with them this a.m.
ReplyDeleteRe: TSE and NYSE quotes.... one is in CAD, the other is USD. Except for the OTC, pinks, any value difference is arbed out
ReplyDeleteApmex, Tulvig, are the two that come to mind.
ReplyDeleteBoth are professional and reliable. Check delivery dates before ordering.
This is a very expert-like and succinct explanation of the puzzle that was slowly coming together for me. Mr. Harvey is masterful !!!
ReplyDeleteCMI Gold and Silver in Phoenix....no computer records of your purchase for privacy....
ReplyDeleteships free/insured for minimum orders.