Reader Feedback!(You are not alone!)Silver Stock Reportby Jason Hommel, April 2, 2008
you are really passionate
about your believe in the silver shortage. For whatever reason the
silver price wants to go down at present. Of course I don`t but maybe
the current silver shortage has already been factored into the
recent peak of USD 21. The situation is indeed
bizarre! Rgds A It looks like every one read my saying "If you don't hold it, you don't own it"...Ponce Only physical PM is safe in what is to come.......... Jon Nadler is a blathering fool, and not even a tinfoil hat could help him tune out kitco's bearish bias and overpriced silver, and tune into reality. You noticed his rant to day, too, huh? He says WE have the tin foil hats. "Something's happenin' here, what it is, ain't exactly clear...." _
Buffalo Springfield
-P ========== Proposal.......
The Jon Nadler Memorial Buy 20 Ounces of
Silver a Week Program
Participants must
encourage 3 of their friends who are not subscribers to Silver Stock
Report to do likewise Essentially Jason I am recommending that you
have revolving buying campaigns for your readers to participate in giving
them the satisfaction that the weekly purchase of bars is in the name of
the latest silver basher LOLOLOL
8-) ========== Wow you really know how to stir up a hornet's nest. I am taking delivery of gold from Perth Mint, they are pretty slow in responding due to all the inquiries they are getting. We'll see how long it takes them, I'll keep you updated as it progresses. Keep yourself out of trouble, the last thing anyone wants is for you to get stuck in a legal battle. They have lots of lawyers, after all. M ========== Hi Jason, Until I began reading your report I didn't really appreciate how much my husband's Safety Awards from Sunshine Mining and Refining could contribute to our retirement fund. We have 12 pounds of silver in the form of 1 ounce rounds, each given out for safety. Given the silver shortage you report, silver should surely increase beyond current projections. Speaking of silver prices, I would be delighted to relate a story to you about the incredibly tight money market for silver mining juniors. I work with a silver junior with outstanding formerly producing mines that are on patented ground. No permitting issues, no EPA issues. The company needs to raise money to undertake exploration on 1000 acres of land, in order to identify how much silver is in the ground -- there is no doubt it is there the only issue is how much. Money for exploration has completely dried up, even on grounds that have older resource reports. The company I work with wishes to define the amount and best locations in an historic district which has been profitable in the past when the ratio of silver to labor prices was less favorable. I have been told repeatedly that there is no funding available for exploration. The company could be into significant production in 2 - 3 years. Given the current silver shortage, the past production from the property, the enthusiastic endorsement of geologists who last looked at the property, the enthusiasm of current geologist knowledgeable about the property and older resource analyses showing significant ounces in the ground, why is it impossible to find funding for exploration? And, in the end, what is the strategic implication for North America if companies holding promising properties are unable to explore them? L Jason Responds: When the junior market starts to move up, money will pour into the sector. This could happen very soon, maybe within 6 months. ========== Personally I think that we are up to about round 3 of a very interesting and even bout at this stage. I am delighted that this debate has taken on such a wide audience. P ========== Hi Jason, i have also heard that thailand has silver can i but it there... how do i know they pure silver,Tks s Jason Responds: Sivler purity can be detected in several ways. Does it ring? Does it weigh slightly heavy? If it were easier to counterfiet coins, then U.S. coinage dated 1965 and later would look a lot like silver, but you can see the copper in the middle, and they weigh lighter, and ring different. ========== Hi
Jason I want
to thank you for your outstanding emails relating to the silver trade. I
find it to be a platform where one learns about the intricate dealings of
major silver houses and where such dealings can be brought to light, also
your articles are very informative. As an
amateur collector of silver coins (panda’s & maples) your articles
helps me to enjoy this hobby with enthusiasm, I am even contemplating to
invest in silver more aggressively. Thanks for all the effort you place
into your writings. Kind
regards. D I am just a small swiss private investor, ( and a mother trying to
foresee the mess my swiss/american children are going to find themlseves
in, in their retirement age), who tried to buy a fair amount of
silver last week on www.goldmoney.com and I am confirming to you
and your readers that I had to wait several days before the transaction
could take place due to shortage. The silver had to be eventually shipped
from their London vault to their vault in Zürich.
The staff on Mr. Turk's website was very polite and apologetic, I
hasten to add and they did block the buying price to the day of my
purchase.
So I am confirming your position.
The reason I am buying online for the moment, against your rightful
advice is that I still have not come up with a solution yet
of where to store it, except to buy a very large safe specially
made for holding precious metals, doublebolt it in my very accessible
cellar in my apartment building and not say anything to my children, aging
parents, neighbours or insurance company. The fewer people know about it ,
the better.
My question is: how do you eventually sell it? Do you have to carry
the stuff one by one into your car and go with it the bank or a
dealer?
Please excuse my ignorance!
I thank God for your newsletter which is very accessible and easy to
understand for individuals like me swimming in the dark.
Very gratefully yours,
S Hi Jason, I really enjoy your news letters on silver, and find your concepts for the most part easy to comprehend. I must confess that I am a "man on the street" investor, with slightly less than 200 oz troy in American pre 1965 silver halves. I have Kennedy, Franklin, and walker halves. Does any type have any advantage over the others? When asked my opinion on what the metals market will do, I say that I have 2 balls, and neither one is crystal, so I don`t know. Do you have any idea when the market will go back up to say, $21.30 oz., so I can make a profit on my investment if I so choose? Yes, I`m a Tiny investor, but there are a lot of us. Please respond. Thanks..........Silver Half. Jason Responds: The Kennedy,
Franklin, and Walkers sell for the same price. Walkers,
older, are usually a bit beat up, with slighly less silver.
Hi Jason,
Well done. Keep up the pressure on this
situation, as I'm thinking we might just be at the edge of the long
awaited silver rocket. Please keep updates coming regularly and the
increased scrutiny and investment demand may help finally lift the lid on
all the crooks.
Cheers
D
PS Saying openly you have 6t of silver in
safes, may be tempting for some, like knowing somewhere has a few million
in cash. A bit harder to carry away but for that sort of money worth
planning for. Be wise, pray for wisdom on how to make it as safe as
humanly possible and then pray for angelic protection also! Jason Responds: Yes, but if they don't know where it is, how can they get it? Besides, we have many millionaires, even billionaires in America, from Buffett to Gates. Further, few thieves read investment newsletters, and if they do, they try to get your money by pushing scam investment companies on you. I know nothing is 100% safe, everything has a risk, but you have to be able to weight the risks vs. the reward for everything. Risk of theft out of hidden and guarded safes is very low. ========== ONE POINT: SUB-PRIME DEBT CAN NEVER BE AAA RATED..THE CLUE IS IN THE NAME "SUB-PRIME"..IT IS BY DEFINITION BELOW INVESTMENT GRADE PAPER...I.E.JUNK STATUS!!! I THINK YOU HAVE TO BE A LITTLE MORE CAREFUL WITH YOUR TERMINOLOGY, CONSIDERING HOW WIDELY YOUR LETTER IS DISTRIBUTED!....ALWAYS AN INTERESTING READ THOUGH.....ALSO SMALL POINT ..NADLER IMPLIED YOU WERE NOT TELLING THE TRUTH BUT YOU INFERRED THAT THAT WAS WHAT HE MEANT,NOT THE OTHER WAY ROUND!..REGARDS..KARL Jason Responds: But Sub-prime debt WAS re-packaged as AAA rated. Thanks for the lesson on implied vs. inferred. ========== WOULD YOU PLEASE NOT SEND ME THIS ANY MORE ?? The price of SILVER is down under 17 tonite, and you keep quoting Scripture about any thing....like people should read their Bibles ?? What about you ?? Jesus said sell ALL YOU HAVE and give to the poor, and YET I DOUBT you would ever CONSIDER doing that with your Silver would you ?? Tell me the truth............im not stupid Stephen HILO HAWAII USA Jason Responds: You have successfully unsubscribedThank you - We have received your unsubscribe
request and have removed your email from our list. ========== Jason, I'm disappointed to see a continuation of interminable accusations and no proof, and now name calling. You've had your 5 minutes of fame. Now its time for some proof. Unsubstantiated accusations don't go down too well in the Australian business context. In fact they can get you into big trouble when a company can prove that someone has depressed or diverted business through rumour in inuendo. Of course you are making your accusations from America, where you are safe. This reflects no great honour upon you. I know you're not in the mood to listen, but I hope you are big enough to apologise when the time comes, unlike Ted Butler who decided never to mention Perth Mint again, when he was called on his baseless accusations. Cheers, K Jason Responds: I have proven time and again that I'm capable of apologizing, so you ought to be big enough to apologize to me right now, right? Furthermore, I don't have "unsubstantiated accusations", I have email reports from real people, that's called substantiated claims. Furthermore, I'm not making any accusations, I'm reporting, opining, and asking. It's what journalists are supposed to do, report. What about that do you not understand? K Responded: Perhaps you have apologized in the past, but of course the damage has been done. What would I be apologizing about ? I merely hope that you will be big enough to do so in the future. Email reports are not worth the paper they're written on. While they might be written by real people, it is not unknown that people contrive and concoct emails to feed to people with strongly held views. They are certainly not by any stretch of the imagination substantiated claims. I think the name calling was pretty accusative, and some of the inuendo. Journalists usually try to look at both sides of a story - have you asked any of the following for comment : Perth Mint, Department of Consumer and Employment Protection, Australian Securities and Investment Commission ? Journalists look for balance not necessarily because of some high motive, but for self protection for both legal and reputational reasons. It is your neck however, and you can stick it out as far as you like. Cheers. Jason Responded again: While that may be the case [that people contrive and concoct emails]; that is not the case with Perth Mint now. There are too many people telling me the same thing, and nobody telling me anything to the contrary. ========== Hi mate, I'm an aussie working in the equities business for a large global bank, and have recently stumbled upon your website whilst researching the silver market. Just wanted to write and say congrats and keep it up for getting this story out there. I couldnt agree more that silver is on the cusp of a mega bull run, this thing has at least 7 years left in it... and who knows how high it could go. I find it hard to believe how much press coverage silver does not get, i suppose its like everything else... no one even knew what uranium was until its price hit $100 and every global bank, website, and newspaper in the world started talking about it as if they were all uranium experts from way back. I suppose this will happen with silver also when it hits $100 and the world realises there is not even enough of the stuff left for Dell and microsoft to keep manufacturing computers I have recently been trying to source as much silver as i can get my hands on, most bullion dealers here in Australia have at least a 3 week wait on small quantity bullion (eg below 5K bars) and are now charging ~5% spreads either side. They claim this wait is not cause they dont have the silver, but cause they cant produce the bullion fast enough. In and case waiting to get 1Kg of silver from the biggest bullion dealer in the state is telling me only one thing. People are also paying 10-20% over spot for silver bullion on ebay, and the amount of demand for sterling silver products and coins has quite frankly amazed me. There are clearly people out there who are onto this silver thing as well. The other interesting thing of note to me is the shortage of silver mining companies. Australia happens to be one of the largets holders of almost all kinds of mineral deposits in the world. We have recenty seen booms (or bubbles if you like) in uranium, copper, iron ore etc.... and each time there have been tens to hundreds of companies and juniors popping up claiming they have large and viable deposits. Some of these things have gone up thousnads of percent. I then go and look at silver companies, and there are few, if any, that exist here at all. Silver is not a common element like iron or uranium, so it is very unlikely that there will be a rush of small silver companies to market any time soon. We have coeur de'alaine which is not even Australian based, and Macmin Silver (MMN.ASX) a junior which is hitting rolling year lows. Every other silver producer is simply mining as a small and insignificant by product of other mines. Companies like RIO and BHP have been ramping up iron ore production as fast as they can, and BHP and ERA are ramping up uranium output.... but as you keep saying, once silver takes off.... its not as if these majors are going to go and spend billions of dollars ramping up zinc and lead mines to produce an additional 2% silver as a by product. This has led me to believe that silver is completely unique and unlike any other widely traded commodity on earth. It amazes me that these people come out and say theres an abundance of silver out there.... when a simple every day Aussie like myself can't even get his hands on a few Kg's at $17 an ounce. So what if silver pulls back from $20 to $15, critics of the silver bull start talking about this being the end of the world cause silver pulls back 25% and you would be crazy to invest... i cannot understand these people. i think in the short term silver may pull back and i certainly hope so, so i can start buying some cheap. So cheers for the emails mate, keep them coming.... it is mind boggling to think where silver could go when the world starts producing base load solar energy farms and replaces the worlds long distance power cables with superconductive cables full of silver. All the best. Jason Responds: Thanks for your report and support. ========== Dear Jason....Each day I look forward to your email and that is because I feel not only do I learn about silver but that you share the word of our Lord with me and I feel that I am also walking the way our Lord would want me to walk. Thank you for talking about rebuking that which is not in the Light of our Lord. Deep faith is necessary to do what is right in action and deed and also to guide others away from the darkness and to stay within the light. Thank you so much for sharing the Lord.s word with us and I am very glad that I have your website. Without your
heart many of us would be led to slaughter unknowingly and Jason I am
making copies of your work and sharing them. One young woman who
recently read your work and had lost her babies after caring for them in
her womb was sad and she read your articles and compound interest and she
said...Yes Jason is very good and wants to read always about your work
which I share with her. She helps mom and I on Saturdays and my mom
enjoys her so very much and mom sings when she is here. Maria knows
of loss and she believes when the Lord wants her to have her children they
will come. Maria and her husband work hard and soon will lose their
home which has fallen way down from what they paid and the payments alone
are so very high three thousand a month and because she was working so
hard she lost her children and knows now that to have her family is most
important and the opportunity to have a home will happen again some
day. Your articles give her courage and they give me courage as
money helps but our Lords word is what is important and is the center and
everything that comes to our lives is from Our Lord. Thank you for
your courage about Perth Mint, and other unscrupulous companies who take
hard earned money and give back nothing which is backed only by false
paper. May Our Lord continue to bless you. Sincerely,
Christina Great article as usual. Regards K Greetings, Jason- The following may be of some value to your readers who have very limited budgets but still would like to get their hands on SOME silver- For what it's worth, there APPEARS to be enough circulated US coinage currently available [in small lots of ~$4- face up to about 15# [yes, there are quite a few multiple-pound lots currently for sale] on eBay that the prices I've observed this past week have been between 11.1 and 14 times face value, [with the usual premiums being paid for coins with numismatic value.] I'm cheap-I so far haven't paid over 12.7x face, including factoring in shipping and insurance...this while spot has varied from $21- down to the low 17's. Dimes are the cheapest, then quarters. 90% halves seem to be selling at a small premium over spot, as are both Peace and Morgan dollars-the 40$ Kennedys are selling at a greater discount than dimes-see below Prices being paid for silver eagles have been from $19- to over $30- in lots of ~1-10 coins, 1oz .999 rounds seem to be running right at $20/oz and Sterling silver Franklin Mint-type "art" ingots in various sizes from a few pennyweights up to maybe 12 troy ounces have been selling for right around $20-24/troy oz [when converted to .999 silver content.] I'm pretty well convinced that a significant number of people I see bidding on these things are completely unaware of both the copper content in sterling and the difference between troy and avoirdupois...and the significant cost of shipping and insurance when buying art ingots singly can easily push the delivered cost per oz. of .999 fine silver to well over $30! For us poor, small investors this may be the only game in town at the moment since APMEX suspended their sales in quantities as small as $1.00 face value and the few local coin shops here in NW Montana are either sold out or wanting a 20% [!] premium over spot for 90% coinage. What are your thoughts on the desirability of 40% silver coins? At silver spot of $20, a 40% Kennedy is worth $2.96, while a 40% Ike is $6.32, according to the online calculator found at: http://silverrecyclers.com/Calculators/coin_calculator.aspx I've purchased Kennedy rolls at prices equating to $15.30-$17/oz of .999 content this past week-can't figure out why they are selling at such a discount to melt value- You preach spreading your buying among multiple sellers-I'm DEFINITELY doing that! So far, every transaction has been perfect, no shortages, no switches, no losses- Love your work and style, Brother-God bless-and keep fighting the good fight! Jason
Responds: The 40% is heavier and bulkier, of course, so I don't
prefer it. Also, smelting costs for it will be higher than 90%, so
it should sell at a slight discount. Hi, Jason.
Nice article once again. ========== Jason, I read your emails with avid interest and decided to visit the mint in Perth last Friday. Tried to purchase both 100 once and kilo bullion over the counter - no such luck 6-8 weeks I was told and we only have kilo coins in stock. I left disappointed and later went back and being served by another person enquired about 20 ounce and 10 once bars - yes we may have some. I observed her go to the drawer to reveal one bar she then went out the back and returned almost immediately with as many as she and another woman could carry in both sizes!! No silver?? All a little amusing and confusing! NJason Responds: Thanks for the report! ========== Thank you so much for the update .and Q&A I may have not seen an artical on Silver .that is stamped S13 have a cross that has this on appears solid silver ? what % silver is it any Idea Thanks Gene Jason Responds: That's not my specialty. Try google.com or try a jeweler or book on the kind of "article" it may be, such as flatware, etc. ========== Jason, You are doing a great service to all by helping to
expose the shortage of real, deliverable silver vs. the amount of sworn
promises that oceans of silver are available for delivery at some distant
future date. Same deal on the So it seems that the SLV Investor(1) owns the
iShares(2), which are issued by the Trust (Bank of New York)(3), which
hires a Custodian (JPM Chase Bank)(4), which can have any number of
Sub-Custodians, Agents or Depositories(5), where the silver(6) might be
held. Compare this schematic with the true silver owner(1), who owns and
controls his own silver(2). JP Morgan Chase, as I'm sure we all know, was
implicated in the Enron accounting fraud, the Blanchard/Barrick lawsuit,
and many other high-finance scams too numerous to recount. I guess that
makes them a perfect choice for this assignment. You might have innocently thought that all this 100+
million ounces of silver is sitting quietly in one place in a New York
vault. Maybe it is. But, if there should ever be an audit, JPMC has TEN
DAYS to round up enough silver to satisfy the auditors. Even then they
don't actually have to have it on hand for inspection by the auditors,
or anything as tedious as that. This is the 21st Century! All they have to do is to say it is
located at one of those Sub Custodians and it would be too much trouble
and expense to move it. This is just custom-made to allow real silver to do
double and triple duty. If the auditor wants to get snotty and insist on
seeing all the silver assembled in one place, JPMC has to be assured of
payment by "somebody" for the trouble and expense of doing so. Never
Happen.
Just Say No to the Silver ETF (Rube Goldberg Strikes
Again) So in the end, it boils down to this: there is plenty of silver for everyone, as long as everybody will just leave it where it is and not insist on taking it home with them. It’s called fractional reserve banking. Jason Responds: Perfect summary of why to not trust the ETF, or anyone else to hold your silver for you. Thank you. Yes, with all those middle men in between you and your silver in the ETF, it's astounding. The other bad thing about the ETF is that your holdings and gains are reportable, and taxable at the "collectable" rate for silver, which I hear is 28%. In contrast, when you buy and sell silver to a coin shop, it's not reportable, and it's up to you to voluntarily report and pay capital gains if you owe them. ========== Hi
Jason,
In
reading your latest email, I feel I should share my dealings in buying
silver.
I
first bought silver, at the advice of a friend who has read your's and
many other articles for a few years dealing with silver and
gold.
The
first silver I bought was in 1kg bars from AGR Matthey's in the there
Perth city office, in the first week of March 08. Very nice, very helpful
people and the silver was to be held for my collection within a month
(free of charge).
I
rang again just over a week later to buy more and was informed that the
Perth City office was closing down and I needed to contact there Newburn
(also in Perth) office if I want to but more silver. I must clearly
state that AGR Matthey did in fact have my silver and did forward it on to
me within 2 days
after I found this out. I did find it somewhat puzzling as to why they
would be closing there Perth city office(rent must be to high). I was
informed by the Newburn office that they didn't sell silver bullion and to
contact there Melbourne office.
I then contacted another bullion company here in
Australia and was told they were out of stock and wouldn't have any most
proberly until early May.
Then I rang AGR Matthey in Melbourne and was
told they didn't have any silver bullion to sell and if I wanted to
buy some to contact the Perth mint
.
When I rang the Perth mint in very late March
and asked if they had $A10,000 to sell me there and then if I walked in
off the street, was told after a few seconds (checking stock levels) that
they did "If I didn't want specific sizes" they would have
it for me.
I did buy a few 100oz bar (maybe rather
foolishly) for my collection in a "few weeks".
The friend I spoke about earlier has had his own
problems with his silver allocation with the Perth mint that has already
made your emails Jason.
I
have wondered if they(Perth mint) do have the silver there that they
should have and if so, why they so slow to be able to produce it
in to collectable form.
My
experience and thoughts
B Jason Responds: Thanks for the report, yes, why should Perth be so slow, is the million dollar question these days. ========== An interesting comment on today's newsletter. I called a coin shop I have bought from before and asked if they could sell me 12 100oz bars. They said no problem, they could have them by the time my check cleared. I then asked about any shortage they have seen and they told be that they were having trouble getting hold of 1oz rounds and 10oz bars, but most of their customers were not looking for 100oz bars. Just thought the information may be of interest to you. S Jason Responds: Thanks! ========== No silver shortage except in your satanic little mind. How much do you want? The check has been received! GOODBYE! JESUS LOVES YOU! Jason Responds: This crazy guy has been pestering me for a while and does not knoww how to communicate in response to my inquiries; he refuses to provide substantial information in a professional manner. I unsubscribed him. ========== Dear Jason, I don't about others and the 13 ounces, but I can say since you said to buy it I bought 600 ounces which is still small compared to what someone with more funds could buy, but I still got on the train and awaiting the ride! Now all the coin shops in my area have little if any silver cause I call them weekly to verify. L South Bend, IN Jason Responds: Thanks. ========== Dear Jason, Thank you for your enlightening emails. I only wish I hadn't lost so much money in cftn that I could afford to sell what remains but the comission charges would eat up quite a bit. Still I wait and hope for a rebound to the $1.10 buyin price I had. Hope springs eternal as they say... If you could answer this question for me I would appreciate it as I find everyone who knows cftn stock seems to lie to me over and over for the last six years. Do you believe they really have one billion ounces of silver or was that hogwash as well? This IMM company they say that they have contracted with looks as fishy and unprofessional as can be when I pull up their website. Thank you in advance for any help you can offer as to if cftn is a scam or the next thing to it. They just have lied so much and they seem to be living the life of Reilly whereas I pray they get a concience for those investors like me who fell for every word they and their promoters pumped out. Enjoy your day, S Jason
I don't get it. Silver keeps crashing as
you continue to elaborate on the silver shortage. Since I became a
subscriber about a month ago, I've invested 10K in silver and gold and
have seen the value of my investment now drop 25%. You say then this
is a good time to buy but my investment cash isn't a bottomless pit.
Also, my coin shop has plenty of silver on demand, any way I want
it. (Coin Gallery, Phoenix AZ). I would rather have seen
silver go from $21 to $25 instead of going to $17. And I think that
silver isn't going to trade above $20 for a long time. The U.S.
government industrial complex isn't going to allow the paper dollar to
collapse. The spin in the media is putting fear into the public
about investing in precious metals. It's going to take another
decade for the price of silver to double. Probably longer if John
McCain is in the White House for 8 years.
RM Jason Responds: If the government is "all powerful" and won't let silver rise, then why did gold move from $20 to $35 in the depression in the 30's? And why did gold move from $35 to $850 from 1970 to 1980? The government has little to do with silver, and ran out of any to sell quite a few years ago. ========== Hi Jason,
I don't doubt that silver is in short supply;
but you convinced me of that 3 emails ago.
I'm putting a request in for you to comment on why
you think the price of silver is going down (in a future news
letter). I'm happy that the price is going down because I
know it's going back up. If you are able to determine what is
causing the silver pice to go down we would all like to hear what you have
to say.
Thanks,
Jacob "No one is as hopelessly enslaved as the person who thinks he is free." Goethe "Government big enough to supply everything you need is big enough to take everything you have. The course of history shows that as a government grows, LIBERTY decreases." Thomas Jefferson Benjamin Franklin: "It is the first responsibility of every citizen to question authority." Thomas Jefferson: "I sincerely believe...that banking establishments are more dangerous than standing armies." Paul Volcker, former Chairman of the Federal Reserve System ( privately owned banking establishment): "The standard of living of the average American has to decline. I don't think you can escape that." Jason Responds: I actually commented on why silver was down in my last email, to which you responded. Here it is again: This weekend, the Silver COT's came out, and
showed that it was the spec longs that sold 1/5th of their positions, and
Commercial shorts covered less than 1/10th of their positions, which
explains the major price dip from $20/oz starting on Wednesday, March
19th. It was thought by Howard Ruff that this was
related to margin increases, and "deleveraging" of positions. ========== Jason,
The fall in the price of silver over the last
several days indicates that there have been more sellers than buyers of
paper silver. I believe lots of industrial silver supply/demand is
essentially price inelastic. I have verified that some industrial
users do sell their silver when prices run up and buy it back when prices
dip. Regarding small investor physical silver in the form of 90% coins and
10 or 100 oz bars, my own research, which included talking with numerous
coin dealers and a refiner in Pennsylvania, indicates plenty of
current availability if a person is willing to pay up.
Also, you picked a misleading analogy about sea
water vs drinking water that makes me further question the validity of
your concept of a current shortage. You can't drink sea water unless you
have a distillation facility such as a very expensive desalination plant
that takes years and 10s of millions of $ to build and to connect with an
existing water distribution network. However, if a silver refiner feels
there is a shortage of a particular form of silver and a corresponding
demand, such as in 10 or 100 oz bar forms, they can turn scrap silver into
those bars and sell them to dealers over the course of several weeks to
3-4 months. In other words, there is no shortage of silver. Will dealers
be willing to buy them at this price? What appears to be a shortage is
just a temporary problem in instantly getting the silver you want in the
form you want and at the price you want. A shortage in finding old
Englehard poured 10 oz bars, which are no longer freshly minted, is
not the same as a shortage in 10 oz bars that can be fabricated next month
if the refiners and fabricators are willing to make new 10 oz bars. There
may very well be a shortage of silver later this year or several years
from now which will cause the price to run up into the $30, $40, or even
$50+ range. But such a price run up will not happen because several
thousand or even 25,000 1000 oz bars are melted and fabricated into 10 oz
bars or 100 oz bars to meet perceived new investment demand. New
investment demand that causes a collective equivalent of what the Hunt
Brothers attempted 28 years ago will have to be many, many times
larger than what you and other bloggers can stimulate. There is lots of
new supply coming from mines year over year that should roughly balance
increased demand. The Mother of All Bailouts, that included Bear Stern,
and the drop of crude oil over the last several days appears to have
put out any silver rush fire at this time. For how long the new
silver rush has been stymied is known only to the Creator and Sustainer of
the world. However, in my opinion, the current price dip
gives everyone a chance and choice to accumulate silver, in the forms
and prices you can find, for roughly 20% less $ than it cost a couple of
weeks ago. Keep plugging away at the extra risks in investing in silver
that you can't personally touch or otherwise verify
exists.
Please let me know if you want to talk with me
about having a regional refiner fabricate 10 or 100 oz bars,
with your name and logo, that you can sell directly to the public or
accumulate for yourself. We have spoken before about my skepticism of OT
Mining.
J in Pennsylvania Jason Responds: Water desalination plants can distill water on demand, but my point is that droughts and shortages of water still occur, and the existence of some water somewhere does not disprove the existence and fact of a drought. Similarly, many coin shops are sold out, and many fabricators and mints are sold out. New investment demand, if it doubled, would be 100 million ounces this year, and it looks to me like we are on par for that level of buying, or higher. That is the equivalent of what the Hunts bought, or more, if it continues for more than one year. The Fed bailout of Bear Stearns and other bailouts added $350 billion, which is about 350 times the investment demand into silver. Shocking, and it will cause silver to move that much higher in the long run. I've been very disappointed in OT Mining. ========== you are one egotistical religious fanatic...lol do you honestly believe you are responsible for the silver "SHORTAGE?" if there was a shortage, the price would be going UP not down...you kill me Jason Responds: Well, not everyone is capable of understanding math, it seems. I'll try again. About 50 million oz. of silver were bought by investors in 2006. About 200 million oz. are recycled, and I'd estimate about 50 million oz. is sold by coin shops to refiners over the year, or 1 million oz. per week. My list is 74,000, which means that my readers only need to buy 13 ounces each, each week, to create a shortage at coin shops. Clearly, many readers are buying much more than that. That might not be enough to cause an immediate change in price, but it will affect it, as refineries will have less silver to make into bars, and could cause a short squeeze in the coming months as regular expectations of 1000 oz. bar deliveries may be much lower. ========== Jason,
Where do these published spot prices come
from?
Who
determines them and how?
It
appears to me that they don't take into consideration the price demand in
the market place which seems too disconnected from spot.
Thanks,
R Jason Responds: Spot prices are an average of the bid/ask quoted for the current delivery month for futures contracts for 5 1000 oz. bars of .999 fine silver. Until that market can't deliver, that market will continue to be a trusted source. ========== Question : why would a mint or any refiner/miner/supplier wish to report more silver then they have, wouldn't it be in thier own interest to have silver go up in value and profit from their own inventory? Jason Responds: If they are short, a mint might want to lie, and claim to have silver that they don't have. And if they don't expect prices to rise, or if they have borrowed from their inventory as one borrows money, those kinds of loans get very expensive and impossible to repay, as most businesses are not growing profits at a rate of 38% compounded each year like silver is going up. ========== Thanks, Jason, for these great email reports! Keep making them SQUIRM! Best regards, B Jason Responds: Thanks! ========== Good morning Jason. There is only one way to end the battle of 'I have it'...'No you don't' speculation when it comes to these mints and their holdings. If they say it's there, they need to prove it. And the only way these mints will prove you wrong (or right) is to allow a full inventory of their holdings with you, one other disinterested party, and their designated representative(s) present. These mints will never allow this if they are misrepresenting the truth...which is the nice way to articulate the word lying. If they have what they say, they will hop on this offer as it will 'rid the thorn' by quelling your contentions and publically embarrassing you. So...Perth Mint, Northwest Territorial Mint, and any other mint which has disputed your claims, I say this: "Either put up or shut up." I would fully expect the normal legal and political language from them concerning 'company policies, security, and safety' as a reason for not allowing this. If you get this instead of an invite, I would assume the worse. At this point, the world's politicians and legal community need to step in and demand a full inventory to be conducted as proposed above. And they are perfectly within their rights to do so, considering one of the aspects of their jobs is to protect the people. I believe this will never happen, as the ramifications of false claims on the mint's part would send a shock wave through the world's financial markets unseen since America's Great Depression. There would also be quite a few very powerful and wealthy men and women going to prison for a very long time. The time is now Jason. Make the offer...and make it a public forum where you will be heard. L Jason Responds: I would not travel to their location. No need. They could easily buy a $300 video camera, and make a Youtube video of the silver in their vaults, and show a rough estimate that they do, indeed, have plenty of silver. ========== there will be plenty stories planted by
"insiders" to confuse and
disourage the world public from buying silver
and hold onto paper
this is only the start
the Chinese have a proverb "if you want to catch
fish in nets
you have to make turbulance at the inlet to net"
all you see
is the "financial noise" -SJason Responds: Interesting. ========== Finally, my good friend Joe from J&M Coin
told me last night he was hoping to confirm an order for 30,000 Maples
today. Last Tuesday his attempt to book 20,000 Maples with the Mint was
declined. Joe is an honest dealer here in I will keep you in the loop of you like? S Dear Jason:
Your newsletter has become more and more difficult to
read. In fact I find it impossible to get all the way through one before I
must hit the delete button. For a man of God as you claim you are,
you show very little patience in your opinions of other newsletter writers
or in companies that choose to operate on a different platform than one
you prescribe. You lash out with insults and innuendo pretending or
believing that you know all...only to have to retract your opinion,
although in a very smug or condescending way down the road. I tell you if
I was the owner of the these companies I would not hesitate to sue your
ass.
I read a lot of different industry analysts who all
have a song to sing because of their investment style or beliefs. And
most believe the way they do because of two reasons. They want to convince
the reader to invest in the same things as them so it can boost that
share, option or commodity price or to sell their own
newsletter/opinion. I.E. it is done for the express reason to make a
profit, read greed...not out of the goodness of their
own heart. You are no different and in fact in recent months you
have become more and more desperate by using a very simplistic math
formula or if that doesn't work quoting the bible as if that will
change their mind or God may choose to smite them down for you. Although
this does give me a good laugh once in a while it is not the reason I read
your newsletter.
Frankly I think you have lost it. Just thought you'd want to know how
someone with no axe to grind feels about your ramblings.
R
You have successfully unsubscribedThank you - We have received your unsubscribe
request and have removed your email from our list. I think you do your self, your readers and your letter a disservice by bring yourself down to the level of people you don't agree with or who you feel aren't as smart as you judge yourself to be. I don't disagree with your view but certainly you are intelligent enough to make it without trying to harm others with name calling or insults. It also seems a little disingenuous to appoint yourself, based on Bible scripture, as the one who needs to rebuke anyone. And that those who don't agree with you need to read their Bibles more, like you are not only smarter than the rest of us but more of a Christian also. Merely things to consider when writing this type of email to 74,000 people. I enjoy your analysis and think you are mostly correct in your positions and assumptions, but allow for other possibilities as well.
Now here's a question for you. If you think
I'm not supposed to criticize or rebuke Nadler, why do you think you
can criticize or rebuke me? Oh the irony is rolling
now. Hi Jason,
I bot silver from Sunshine mint last night &
my order was accepted & processed, $$ in the mail.
Today I
wanted to buy some more silver & the website says:
"Trading is temporarily suspended -
Extreme market volatility"
Then it gives the folowing excuse (notice the
dates are for 2007 - ???):
Sunshine Silver
will be closed for vacations May 21st thru May 28th 2007 Keepup the great work,
A Jason Responds: Thanks. ========== Dear Jason,
Again I wish to thank you for your great
reporting of the silver shortage. I always appreciate your
out-of-the-box thinking. Incidentially, a person at "Investment
Rarities", a very honorable company that publishes Ted Butler and
other sarvants writings, has told me that Friday was the first time
in their 30 year history that they completely ran out of silver bars,
bulleon silver coins, and other stock.
I have an propaganda idea to break open the
false perception that there is a "No silver shortage". Please call
me at my home (916) 435-3846 and I will sent you a one page description
plus a one page "Pledge" you might wish to publish/distribute.
India:
I have been interested about silver stockpiles
in India for about six years. India is a unique situation.
Even though they have about one billion ounces of Silver in the country,
mainly married women's security/doweries (sp?), they have very strict laws that prevent the shipping
of silver and gold out of the country. U.S. and European
banking establishments have been trying to ask them to void these laws,
with little success. So even though they may have one billion ounces
of Silver, it cannot be shipped to the rest of the world.
Interesting???
As for Indian women selling their only security
of gold and silver for paper against arbitrary divorce by their husbands,
this will not happen, as it would change a 400 year marriage custom.
Sincerely,
M Jason Responds: Can you email me the 1 page description of your propaganda plan? ========== Squirm like worms! Jason, >From here on in I am in take possession mode. Jason Responds: ========== Jason: I purchased 10 100oz bars from Kitco, unfortunately right before the blow-off, on 3/17. The bars were shipped on 3/20 and I have received them. The bars are somewhat beat up, but I have them (2 still in Engelhard plastic and 8 naked). Also, purchased 29 bars for my IRA on 3/17. The transfer was completed last week. So I am not seeing a problem with silver delivery at this time Jim Ripon, CA Jason Responds: It seems the 100 oz. bars are getting beat up. I got 28 Englehards on the dip at $17.50/oz., and they are the worst quality I've ever seen. Maybe some paper silver shorts were pounding on them out of frusteration? Who knows. ========== I wrote you about a friend that has bought from Gulf Coast Coins over a 100,000 dollar order from Mike Joyce and today he still does not have his silver and he is pissed ---over a 30 day wait Jason Responds: Sorry to hear it. ========== Jason: Just my own personal note here, but once the prices on silver started dropping, there were far fewer people selling silver products through the Nucleo Exchange on bulliondirect. I really don't think that there is a shortage, I just think that there are a lot of people holding silver that aren't willing to sell right now because they think that the price is somehow destined or bound to go up. If or when spot prices get back over the $20 mark, where they were before the sell off started, I think that there will start to be a lot more silver available to buy on things like Nucleo Exchange, as people will want to lock in some profits. So far as your opinions on Jon Nadler go, he did say that it looked like a sell off was in the cards, with some significant drawdowns in spot prices coming. He has been right on that so far, and his day to day analysis tends to be pretty good. I don't think that you have any room to say that he's a "foolish raving lunatic", especially when you keep going on about some sort of an "engineered" price drop in the metals. Why not go with the simplest explanation? It tends to be the best. There are more sellers than buyers. I myself sold off at the most recent peak and am watching to see where I think my money will best go next. Whether that be silver, or stocks, or real estate, I don't know. But I will be watching. Regards: K Jason Responds: Everybody has an opinion. My understanding is that I first heard that Amark was out of 100 oz. silver bars at $20/oz. on Tuesday, before Wednesday's price crash, and Amark is the largest silver dealer in the U.S., and Johnson Matthey's primary distributor to the public. My local dealer told me this and bought 25 bars from me at $19.96 or so, which got me started on this story before anyone else. So, my understanding is that this is not an "unwillingness to sell on a dip" situation. This was a situation of the largest dealer being flat out sold out at the peak, and my local dealer saying that the public had cleaned him out, too! ========== hey whats up with the drop in gold and silver? i like to know what you think. Jason Responds: hey, you actually have to read my reports to know. I bolded and underlined the section in my below that addresses it. ========== Jason, I have been buying 1 and 5 pound lots of 90% silver US coins on Ebay, and other lot sizes of 90% silver US coins there. I would not recommend this for everyone, only someone VERY familiar with Ebay transactions/feedback/vendors AND also very familiar with buying collectible US coins (though being comfortable with the Ebay seller by checking feedback is the most important factor since most of these coins aren't really terribly collectible). However you are comfortable and able, buy all the silver US coins that you can. They all do actually have a tiny to a significant premium value in excess of the silver value, or they soon will. As with the rest of the existing silver supply, a large percentage have already been melted and more will be in the time coming. In time, even the 'junkiest' of real silver coins will have some added value compared to the bullion value. J Jason Responds: Thanks, some of my readers will find ebay helpful. ========== Jason,
You
recently stated that "every book in the New Testament was
written because some people in some Church somewhere were acting foolish
and needed to be rebuked and corrected, as we are commanded to rebuke
those who are wrong." The first part of the sentence is correct,
while the last part is woefully incorrect and seriously misguided.
I would like to ask you what business is it
of yours to judge those outside the church? Are you not to judge
those inside? God will judge those outside.
1 Corinthians 5 9I have written you in my letter not to associate with sexually immoral people— 10not at all meaning the people of this world who are immoral, or the greedy and swindlers, or idolaters. In that case you would have to leave this world. 11But now I am writing you that you must not associate with anyone who calls himself a brother but is sexually immoral or greedy, an idolater or a slanderer, a drunkard or a swindler. With such a man do not even eat. 12What business is it of mine to judge those outside the church? Are you not to judge those inside? 13God will judge those outside. "Expel the wicked man from among you."[b]
Note very
carefully: The epistles of Paul were all written to
whom? They were written
exclusively to the churches and to
leaders of those churches who were
instructed to disciple, encourage, exhort, and rebuke teach those churches. They were not written to the
world, nor intended as instruction in how to rebuke or exhort people
outside of the church. This is another area in which you are clearly
in error.
2To Timothy my true son in the faith:
4To Titus, my true son in our common faith
2To the
church of God in
Corinth
To the church of
God in Corinth, together with all the saints throughout
Achaia
2To the holy and faithful[a] brothers in Christ at Colosse
To the churches in
Galatia:
Now Jason, it really is time you put your focus where
it rightfully belongs and stop being misdirected and misguided in your
efforts. It is time for you to move on to greater maturity and focus,
don't you think? Have you considered getting a Bible education and
perhaps joining a Bible believing church where you can learn and be
accountable and use your gifts to the edification of the church instead of
blowing hot air where you shall most certainly reap
absolutely nothing from? Rebuking and exhorting people in the
financial markets may indeed seem to give you some satisfaction to your
ego, but in the end it shall certainly be burned away and shown for the
hay, straw and stubble it really is on that day. The true silver
you ought to seek is eternal and shall be the works done in the
Spirit and truth directed towards God's people, not the world.
Unless of course it is evangelism which is proclaiming the death,
burial and resurrection of Christ and his soon return, which
historically was the only message approved by our Lord for the world, and
certainly the only message the Apostles preached.
1 Corinthians 2
when I came to you, brothers, I did not come with eloquence or superior wisdom as I proclaimed to you the testimony about God.[a] 2For I resolved to know nothing while I was with you except Jesus Christ and him crucified. 3I came to you in weakness and fear, and with much trembling. 4My message and my preaching were not with wise and persuasive words, but with a demonstration of the Spirit's power, 5so that your faith might not rest on men's wisdom, but on God's power.
So, either you are a minister to God's sheep, or you are an evangelist in
the Apostolic tradition. However your current direction you are
taking in rebuking the finance world is a big waste of your
considerable talent and you are sadly being misdirected. This is why
I take the time to point these things out to you, in the off chance that
you are simply behaving out of ignorance more than stubbornness and
rebellion. Perhaps your talents, abilities and gifts are being
eclipsed by your considerable stubbornness and refusal to get with God's
program? Perhaps you enjoy Jason Hommel's program better than our
Lord's? I suspect so. This shall pass in due time as I have
warned you before on other occasions, and now warn you again. It might
feel better in the short term to continue on your reckless path, but in
the long term, you shall not reap the kinds of imperishable
rewards the Lord would have for you, in choosing to do the Lord's
work his way, with his message, in his Spirit. This will cost
you something as indeed it costs us all.
Revelation
3
18I
counsel you to buy from me gold refined in
the fire, so you can become rich; and white clothes to wear, so
you can cover your shameful nakedness; and salve to put on your eyes, so
you can see. 19Those whom I love I rebuke and discipline.
So be earnest, and repent. 20Here I am! I stand at the door and knock. If
anyone hears my voice and opens the door, I will come in and eat with him,
and he with me. 21To him who overcomes, I will give the right
to sit with me on my throne, just as I overcame and sat down with my
Father on his throne. 22He who has an ear, let him hear what the
Spirit says to the churches."
Sincerely,
D Jason Responds: I have carefully weighed and thought very carefully about all your scriptures and words, because I do know that if the Lord is speaking through you, then I must listen. But I think you take 1 Cor 5 out of context, and I will respond with others. When Jesus in Matthew 23 was rebuking the Pharisees, was Jesus rebuking people inside the Church, or were they of the world? Jesus said they were of the world. Peter, in Acts 2 rebuked the whole crowd, as murderers, and they repented, and were saved. Stephen, in Acts 7 again rebuked the Pharisees. Paul, in Acts 17, rebuked the Romans as superstitiously worshping out of ignorance, an "unknown" god, who he began to preach to them as the Lord. If I had to take what you are saying as reality, then we, as Christians, who are supposed to be able to 'judge angels'! should never judge anything outside the Church, then our power would be destroyed, our effectiveness removed, our light hid, our power to trample snakes and cast out demons removed. Where does this false idea come from? I think I know. The vast majority of Churches are non profit 501c3 organizations. They do this so that their donors can deduct donations from their taxes, contrary to how the Lord says to conduct giving, which is to be done in secret, not so you can boast about it on your taxes. Matthew 6:1 Take heed that ye do not your alms before men, to be seen of them: otherwise ye have no reward of your Father which is in heaven. Matthew 6:2 Therefore when thou doest thine alms, do not sound a trumpet before thee, as the hypocrites do in the synagogues and in the streets, that they may have glory of men. Verily I say unto you, They have their reward. Matthew 6:3 But when thou doest alms, let not thy left hand know what thy right hand doeth: Matthew 6:4 That thine alms may be in secret: and thy Father which seeth in secret himself shall reward thee openly. See, when Churches become a 501c3, they also have to obey the rules of the IRS, which say that they cannot speak about political candidates. Weak-minded Church men then have to justify such foolishness with scripture, so they twist 1 Corinthians 5 into saying something that it does not say. Paul is saying we are not to "judge" those outside the Church to such an extent that we refuse to do any business with them, after all that is a type of isolationism that he is not preaching at all, because we do have to trade with the world, and by doing that, we can act as a powerful witness to them. And the Church does have the power to isolate, or not pay, those people who want to be in the Church, and not associate with blatent hypocrites, and not let them receive Church donations or support, as that was one of the functions of the Church, to distribute money to Church elders. If such elders had lost their way, they were to be cut off. That, in no way, means we are not to judge evil actions done outside the Church as evil. Yes, those outside the Church will be judged by God, because they will reap the fruits of their way, outside the Church. Those in the Church have full power and authority to call a spade a spade, both inside, and outside, the Church. You missed Paul's context in the very next Chapter! 1 Cor 6: 2Do you not know that the saints will judge the world? And if you are to judge the world, are you not competent to judge trivial cases? 3Do you not know that we will judge angels? How much more the things of this life! 12"Everything is permissible for me"—but not everything is beneficial. "Everything is permissible for me"—but I will not be mastered by anything. But yet, you would forbid me to say things to those outside the Chruch? So you greatly err. Finally, I will answer Paul's rhetorical question, "What business is it of mine to judge those outside the Church"? It is my business, as you may have noticed, this is the "Silver Stock Report", and thus, I give reports about silver and silver companies. I judge them, and evaluate them, and they are outside the Church. That's the entire nature of my business. Further, if we are to judge angels, then we are to judge kings of this earth, too. We, as Christians, are to give advice to Kings, and tell them whether they do right and wrong, in contrast to 501c3 rules. Joseph was adviser to Pharoh. Daniel was advisor to Nebuchadnezzar. Esther advised Xerxes. ========== Are you paying attention? Silver is PLUNGING. Jason Responds: Are you paying attention? People cannot find where to buy silver, there is a silver shortage. This is a result of the public scrambling to buy silver from coin shops and cleaning them out, and price fixing by large traders who trade a different form of silver, paper silver, and 1000 oz. bars of silver. ========== Hi, Jason,
Why the price is going lower everyday? Will it go back
over $20 again?Jason Responds: It's going
lower because 1000 oz. bars are sold at the COMEX. It will go up
again very soon, I think.========== supply vs demand, it's that and only that. i've had no problem getting 1 and 10 oz bars, but 100 oz is another story. jason, is your theories only Bible based or reality based? i am a christian, let's put that to rest, but are you still behind you're aggressive forecast of 12,000/oz in the next decade? just wondering, while i'm steadily collecting. thanks, thomas Jason Responds: Yes, I still think silver can reach $8000/oz. in 15 years. ========== Hi Jason: I went to my local coin shop in Edmonton (Alberta) no 100oz bars. "No over the countert sales" "four weeks wait", just what I was told today. First time I have seen a shortage in anything and the price goes down 20%? Thanks for all your information. Jason Responds: Thanks for the report. ========== JASON,
This is Sudarshan and u mentioned in your last mail that there may be some
different silver in India so i can tell u one that here there are lot and
lot of coins and even bars but we dont know about shipping and any other
thing if u can come here and u want do some shipping of silver u r most
welcome i will take care do believe me as if u come down here i can get as
much as silver u want i do gurantee that what ever silver i give u is
pretty pure and its silver only. Think me as a good friend and please do
believe me.
Thank you and you are welcome Jason Responds: I read there is a ban on silver export out of India. ========== Hi Jason, Todd from Canada, just wanted to tell you that CIBC ( a major Canadian bank ) has 10 oz certificates of gold. ( they might have silver also? ) It is the same idea where they keep the gold and give you the certificate. I was told by the banker that the certificates are backed by the actual gold. I am not worried about being scammed out of money by the bank. I wonder if they really have all the gold though. The bank would not give you the gold any way if you cashed in your certificates. They would give you value in Canadian dollars less the spread. The price is a bit better at the coin shops anyway. Another problem with the bank is that you have to show proof of where you got the money from. Banks have to abide by the anti-terrorist / money laundering regulations to report any suspicious money. Just like as in the USA, the real reason is for The tax man to catch the average citizen to get more tax. If someone walks in to the coin shop/currency exchange, there is less hassle. Jason Responds: Why would you not be worried about being scammed by the bank, while you are concerned they might be selling you gold in the form of certificates that you cannot take delivery of, and that you think they might not have? ========== Should we start demanding our silver instead of a bank holding them,I want about 10 myself if the price goes south between 15-16 i will take delivery. Jason Responds: Yes, take delivery! ========== ALL THE SILVER EAGLES ALL DATES AND BARS YOU WANT ARE HERE IN FRESNO,CA - ALL SHOPS BUSINESS IS SLOW NOBODY'S BUYING WITH THE DAMAGE TO THE CHARTS WILL LAST A FEW MONTHS -SEPT MAYBE Jason Responds: That's not a very specific report. How many Eagles? Which shop in Fresno? ========== Thanks, for exposing Nadler; I really enjoyed that. I had complained to Kitco about him before. I'd call him an idiot, not for his bias, which constitutes an agenda, but for his inability to be able to hide it any more effectively. Jason Responds: Funny. ========== Jason, Do you still feel good about seg.to? LJason Responds: yes ========== Jason, I would like you to ask each and every reader to go out TODAY (or within one week, seven days) to buy 10 oz of silver (coin is easiest for most average readers) at whatever source they find in their area or on line, and report back to you (us) about their experience!! It would not be posed as a challenge,, people I think would be more likely to respond if asked,, and their responses will matter---- they would like to participate, not be challenged, and that their story will be important for us. I realize the tabuling of many responses might be difficult, but ten bright young people in a room could take care of it,, and the tabulating is not really the most important part of the exercise,,, it is the removal of so much silver coin from the system. I respect what you are doing, keep up the good work. K Hi Jason, Thanks for sending me your intriguing emails. You have got me convinced, and now I am certainly interested in purchasing silver. However, I have stumbled in the first hurdle. I live in Bangkok, Thailand, and I can't seem to find anywhere that will sell bars of silver, tho there is plenty of silver jewelry. Have you got any links, or do you know anybody here that deals in silver bullion, or coins? Shall I buy from abroad, using ebay or something, to be shipped here? Maybe gold would be easier?.... There is a large market for gold here. As you can tell, I am a bit confused. It would be of great interest to me to hear your thoughts. Yours sincerely, J Jason Responds: I'm
sorry, I don't know any sources for you. You can try to buy the ETF,
CEF, or goldmoney.com, but I strongly recommend you find physical, or
import it to your location somehow. Thanks for your reply.
The big question is: is new investment
demand sustainable? For example, an offtake or supply of an unanticipated
5- 8 million oz over 6-12 months once can't sustain a rally or a
pullback. However, if this net movement continues and grows, now we have
something!
I am working with a friend who has a PhD in
finance to figure out how to supply 10 and 100 oz bars with little but not
zero risk. In other words, primarily an on demand brokerage. Let me
know if you are interested as I can have new bars fabricated with your
name and logo and/or probably make a deal with a large local refiner to
sell the Englehard and JM bars that they were otherwise going to melt. My
preliminary idea is to have you offer them to your subscribers at a slight
discount to what the general public has to pay.
If you have further interest, call me tomorrow,
later today, Fri morning , or next week. Alternatively, I'll call you at
your convenience. I am leaving after this email for at least 2
hours.
With regard to OT, my personal plan is to wait
just one more drilling season: By this time next year, this summer's
results should be disclosed.
Joseph in Pennsylvania
========== There were plenty of other emails that I received in response to my last report, that had a different subject title, and I did not include them here, these were about half of the mail I received in the last 24 hours.
Jason Hommel |