I personally use the Sprott trust funds so I actually have vaulted metals backing up my purchase. There is a redemption fee so be aware of that. I am retirement age so I look for non derivatives of metals as my core position.
I had listened to David first time at SGT @yt ten or twelve years ago. It just felt like time travel - same men, same subject. Nobody mentiones "JPM" anymore - the very bad guys in those days.
In case of an October crash I hold some cash. These bullion banks are banks (JPM, HSBC etc), couldn't they prepare an "everything" crash in which pm would fall as well and some shorts could be filled? It's a big club and they are all in it, right? Thanks!
I have read your articles on silver and the LBMA with great interest and concern. Although I do hold some physical gold and silver, I have a large portion of my retirement in gold/silver ETF’s. Should I be concerned and liquidating them or are they covered. Thanks for informing us of the issues at the bullion banks.
May I ask, as one of the readers, what ETFs you are holding? My opinion is that not all ETFs are created equal. Have you read the prospectus documents for your ETFs?
Years ago Marc Faber argued: "...if you hold it in US it will get confiscated!" And asked about China to compare, he answered: "Yes they might confiscate it as well, but they give you something for it!"
I grew up in divided Germany, where they had constructed a wall around people. I want my money to be free, so that I can be free. I want bars and prefer those which have a number on them. All the best.
'...If the consumers can't get delivery from the LBMA, then they will have to go "ELSEWHERE"?'
Where is this "Elsewhere"? I think this is a mythical solution. If such a huge market defaulted, then accessing alternative sources would take considerable time and anyone holding silver would be very reluctant to offer it at any price until the situation and demand were clarified. Mom and Pop's silver tea set wouldn't go far in satisfying the demand?
My expectation is that Industrial demand would immediately collapse, as manufactures curtailed operations.
Careful what you wish for.' Short term profits from a Silver Squeeze, could be nullified by a general loss of trust and a Market Collapse......In which case nobody wins.
There are numerous gold and silver exchanges globally. The metal needed by users and investors of the metal will be sourced. Just not through crooked paper markets that rig prices.
The miners need to sell their metal to fund continuing operations. Their metal will be sold into the market. Right now, the miners sell through exchanges that fix metal prices. I anticipate that the miners and refiners will ultimately sell through a fair and open auction market for their metal such as proposed here: https://www.docdroid.net/tuBYKBB/cim-presentation-9-22-16-pdf
Excellent this will be my listen tomorrow on my daily walk!
I love your wisdom and thoughts Sir!
Thanks Nathan !
Good interview. Thanks.
My pleasure, PK.
I personally use the Sprott trust funds so I actually have vaulted metals backing up my purchase. There is a redemption fee so be aware of that. I am retirement age so I look for non derivatives of metals as my core position.
I had listened to David first time at SGT @yt ten or twelve years ago. It just felt like time travel - same men, same subject. Nobody mentiones "JPM" anymore - the very bad guys in those days.
In case of an October crash I hold some cash. These bullion banks are banks (JPM, HSBC etc), couldn't they prepare an "everything" crash in which pm would fall as well and some shorts could be filled? It's a big club and they are all in it, right? Thanks!
The fraud has continued. The data show it is drawing to a close due to metal shortage.
I have read your articles on silver and the LBMA with great interest and concern. Although I do hold some physical gold and silver, I have a large portion of my retirement in gold/silver ETF’s. Should I be concerned and liquidating them or are they covered. Thanks for informing us of the issues at the bullion banks.
ETFs are a form of derivative of metal itself or intermediary to the metal vs. direct ownership and possession of metal. The choice is yours to make.
May I ask, as one of the readers, what ETFs you are holding? My opinion is that not all ETFs are created equal. Have you read the prospectus documents for your ETFs?
Years ago Marc Faber argued: "...if you hold it in US it will get confiscated!" And asked about China to compare, he answered: "Yes they might confiscate it as well, but they give you something for it!"
I grew up in divided Germany, where they had constructed a wall around people. I want my money to be free, so that I can be free. I want bars and prefer those which have a number on them. All the best.
As I remember: HSBC Bank is the 'custodian' for most or all of SLV's silver??
That should explain everything an investor needs to know!
SLV is not the only option available.
IAU, GLD, SLV and PSLV
I personally hold some PSLV, and I’m personally comfortable with that, but I’m nervous about SLV and GLD.
David - would you like to do a podcast episode on bullion on The Contrarian Capitalist podcast? Happy to host if you’re up for that
'...If the consumers can't get delivery from the LBMA, then they will have to go "ELSEWHERE"?'
Where is this "Elsewhere"? I think this is a mythical solution. If such a huge market defaulted, then accessing alternative sources would take considerable time and anyone holding silver would be very reluctant to offer it at any price until the situation and demand were clarified. Mom and Pop's silver tea set wouldn't go far in satisfying the demand?
My expectation is that Industrial demand would immediately collapse, as manufactures curtailed operations.
Careful what you wish for.' Short term profits from a Silver Squeeze, could be nullified by a general loss of trust and a Market Collapse......In which case nobody wins.
There are numerous gold and silver exchanges globally. The metal needed by users and investors of the metal will be sourced. Just not through crooked paper markets that rig prices.
Thank you. Do you have any figures for these holdings?
The miners need to sell their metal to fund continuing operations. Their metal will be sold into the market. Right now, the miners sell through exchanges that fix metal prices. I anticipate that the miners and refiners will ultimately sell through a fair and open auction market for their metal such as proposed here: https://www.docdroid.net/tuBYKBB/cim-presentation-9-22-16-pdf