• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

nowon brought this re silver

nowon

Gold Member
Gold Chaser
Site Supporter ++
Joined
Mar 30, 2010
Messages
1,985
Reaction score
5,415
Location
Now-here
If people believe your story about what it is and where it came from... It just might limit the buyers and they may want to assay the chunk. I doubt someone like your local LCS would just happily buy the chunk.
LCS have equipment to verify the metal. It's pretty common and not that expensive.. even I own a PMV.
 

solarion

Midas Member
Midas Member
Midas Supporter
Joined
Nov 25, 2013
Messages
8,961
Reaction score
15,234
The bigger the premium, the faster Silver will drain from the Crimex, and the faster this thing falls apart. They can only keep the game going for so long and this is how it falls apart.
Another .04 tacked onto the silver premium today for a fresh all time high. If anything, the gap between paper promises and physical in hand is accelerating.

+.71 to 5.75 just since Feb 1 when I began tracking it. That's an increase of 14.09% in just 3 months.

To make matters worse for the crooks, crimex registered inventory dropped by 3m ounces today and another 1m was withdrawn entirely. Meanwhile another 2650 contracts(13.25m oz) were sent over to the LBMA to be exchanged for physical. I don't know where critical mass is exactly, but it's only a matter of time, imo, before some of the various industry purchasers get worried about where their next silver fix is going to come from and take steps to secure it ahead of their competitors.

The stage is set for a showdown between manufacturing industry buyers intent on securing the raw materials needed to continue churning out products and bullion banks intent on suppressing prices. When the two collide paper prices must rise quickly. The bullion banks on the wrong side of this thing are going to be facing destruction at that time. In the past JP Morgan has ridden in to save the day by releasing up to 26m ounces of their ill gotten physical silver treasure. Recently they moved a meager 2.4m ounces from eligible to registered...perhaps signaling that they're not going to keep ponzi scheme afloat this time.