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  • Precious Metal Market Action

    Hello All
    By now you have noticed the coordinated take down of gold and silver that was foretold by Ted Butler 2 weeks back based on the configuration of the Commitment of Traders report. This is the COMEX/NYMEX weekly report that shows where the silver and gold cartel that rig the market is positioned.

    This take down was coordinated to allow the Federal Reserve Bank to hold interest rates at low levels to help rig the economy higher and provide a small lifeline before the inevitable banking and housing crash.

    The good thing is that the wash out is close to complete and if anybody has any dry power left they should use it today or the next few days to buy physical gold and silver because there will be a very nice run up when this take down is over. Some believe (as I do) that "this is it".

    I love Butler's mantra in silver: "Dimes to the Downside: Dollars to the Upside"

    Think of it this way... With Silver in the $16.50's as we hit this morning your investment risk is "Dimes to the downside" but the potential for gain is "Dollars to the Upside". Or even hundreds of dollars to the upside! Not a bad risk reward if you ask me.

    I have showed you all the fundamentals of silver but if you have forgotten read my article Melt the Witch

    http://news.silverseek.com/SilverSeek/1210917480.php

    If there ever was a time to go "All In" it is now!

    Buckle up!

    www.lemetropolecafe.com

  • #2
    I have been seriously considering purchasing some precious metals, specifically Gold American Eagles, but I'm not experienced in this sort of thing. Are those good investments (I was considering purchasing straight from the US Mint)? any better options?

    Also, how do you "cash in" gold, specifically in times of trouble?

    Comment


    • #3
      Originally posted by The Dude View Post
      I have been seriously considering purchasing some precious metals, specifically Gold American Eagles, but I'm not experienced in this sort of thing. Are those good investments (I was considering purchasing straight from the US Mint)? any better options?

      Also, how do you "cash in" gold, specifically in times of trouble?
      To purchase a small quantity from the U.S. Mint is not economically suitable as an investment. You'll be paying almost double the spot market prices (that's prices quoted by COMEX). To purchase directly from the U.S. Mint and get a better price, you'll need an account to get wholesale prices. To establish an account, you'll need to purchase several thousand ounces. Not good, unless you're very wealthy.

      Your best bet is to find a gold/silver coin bullion dealer. I use www.jackhunt.com a reliable, and honest coin dealer. You can purchase 100 ounces of silver eagles (minimum) @ spot price + $1.75 premium per coin. You call, get a quote, send them the money, and receive your coins via FedEx in a couple of days. I'd suggest a money order, or bank transfer. A personal check will take much longer, until it clears the bank. No credit cards, thank you.

      Any questions, give me a holler.

      ps. www.coloradogold.com
      www.tulving.com

      pps. silver eagles is a better play than gold eagles. Silver will multiply X tens, rather than gold which may only double in value. Percenatge wise silver is a better investment.
      Last edited by Stormy; 08-06-2008, 01:18 AM.

      Comment


      • #4
        Thanks for that info, I'll be checking out the links provided, and may have other questions. I know coins/precious metals can be a tricky market and I don't have a tremendous amount of cash, but I like the idea of having some hard currency around.

        Regards,

        Dude

        Comment


        • #5
          Originally posted by The Dude View Post
          Thanks for that info, I'll be checking out the links provided, and may have other questions. I know coins/precious metals can be a tricky market and I don't have a tremendous amount of cash, but I like the idea of having some hard currency around.

          Regards,

          Dude
          It's not as 'tricky' as you suspect. Just don't buy precious metals on margin, don't play the 'buy low, sell high' game. leave that for the experts, and don't let anyone hold your coins. By having the coins in your posession, you're way ahead of the masses when the $USD hits the 'banana peel'.

          Comment


          • #6
            Stormy,,,

            What is the usual price above the spot rate for silver American Eagles and for the various gold American Eagles?.....
            The posts on this forum by this poster are of his personal opinion, and his personal opinion alone

            "Politicians are like diapers. They need to be changed often and for the same reason"

            "We fight not for glory; nor for wealth; nor honor, but only and alone we fight for freedom, which no good man surrenders but with his life"

            Comment


            • #7
              Originally posted by LA DEP View Post
              Stormy,,,

              What is the usual price above the spot rate for silver American Eagles and for the various gold American Eagles?.....
              With a purchase of a case (500 ounces) of silver eagles (.999 pure) packed (20) to a roll, you can expect to pay between $1.70 - $1.85 per ounce. It'll depend on whether you, or the seller pay for the shipping charges. Note, a case weighs 42 lbs.

              Gold is another story. With a purchase of one ounce gold eagle (.999 pure), you'll pay between $25 - $40 premium over spot.

              Visit this site to get date and time of a coin show in your area, and you may get better prices at the show. Bring cash. http://www.coinshows.com/

              Now is an excellent time to back up the truck.

              Comment


              • #8
                Given the number of market analysts, it is virtually certain that someone will guess right about what will happen in the near future.

                If, as Stormy seems to believe, the precious metals markets are rigged through a conspiracy, you would be wise not to invest in them.
                Facts do not cease to exist because they are ignored. -- Aldous Huxley
                Two things are infinite: the universe and human stupidity. -- Albert Einstein

                Comment


                • #9
                  Originally posted by DAL View Post
                  Given the number of market analysts, it is virtually certain that someone will guess right about what will happen in the near future.

                  If, as Stormy seems to believe, the precious metals markets are rigged through a conspiracy, you would be wise not to invest in them.
                  You have to be cautious with any investment......

                  that being said, silver seems to be the way to go.....it is getting used up at a pretty high rate, and does not get recycled like gold often does......

                  I'm not going to put everything into any particular nitch.....spreading things out.....
                  The posts on this forum by this poster are of his personal opinion, and his personal opinion alone

                  "Politicians are like diapers. They need to be changed often and for the same reason"

                  "We fight not for glory; nor for wealth; nor honor, but only and alone we fight for freedom, which no good man surrenders but with his life"

                  Comment


                  • #10
                    Make sure your factor in the brokerage costs and storage fees (if you buy silver rather than futures). For small quantitites, the transaction fees are likely to be relatively large.
                    Facts do not cease to exist because they are ignored. -- Aldous Huxley
                    Two things are infinite: the universe and human stupidity. -- Albert Einstein

                    Comment


                    • #11
                      Originally posted by DAL View Post
                      Make sure your factor in the brokerage costs and storage fees (if you buy silver rather than futures). For small quantitites, the transaction fees are likely to be relatively large.
                      It would be prudent to take posession of your physical precious metals, rather than keep it in storage. Personally, I'd not trust any storage facility with my silver. But that's me.

                      Comment


                      • #12
                        Originally posted by DAL View Post
                        Given the number of market analysts, it is virtually certain that someone will guess right about what will happen in the near future.

                        If, as Stormy seems to believe, the precious metals markets are rigged through a conspiracy, you would be wise not to invest in them.
                        All markets are rigged. Only the gold/silver market is more rigged. Come October/December this will all change. Holding physical precious metals will be the play of the century vs. holding paper certificates. JMHO.

                        Comment


                        • #13
                          Originally posted by Stormy View Post
                          It would be prudent to take posession of your physical precious metals, rather than keep it in storage. Personally, I'd not trust any storage facility with my silver. But that's me.
                          In that case, you have to get insurance to cover loss due to theft or other costs. Homeowners' insurance policies only cover very limited amounts of precious metals, jewelry or cash.

                          I would figure 1.5% - 2% per year.
                          Facts do not cease to exist because they are ignored. -- Aldous Huxley
                          Two things are infinite: the universe and human stupidity. -- Albert Einstein

                          Comment


                          • #14
                            Originally posted by Stormy View Post
                            All markets are rigged. Only the gold/silver market is more rigged. Come October/December this will all change. Holding physical precious metals will be the play of the century vs. holding paper certificates. JMHO.
                            It is wonderful that you are so clairvoyant. I remember survivalists saying the same thing on many occasions.
                            Facts do not cease to exist because they are ignored. -- Aldous Huxley
                            Two things are infinite: the universe and human stupidity. -- Albert Einstein

                            Comment


                            • #15
                              Originally posted by DAL View Post
                              Make sure your factor in the brokerage costs and storage fees (if you buy silver rather than futures). For small quantitites, the transaction fees are likely to be relatively large.
                              Storage fees?.....WHAT storage fees?.....

                              If you are going to buy precious metals, for Gods' sake dont let someone else hold on to them....or even worse, buy certificates......

                              PLENTY of room in my two gun safes......and dont bother trying to move either of them....they are bolted to the foundation of the house.....

                              Not that either silver or gold take up much room....esp. gold coins....$900+ for one 1oz coin.....
                              The posts on this forum by this poster are of his personal opinion, and his personal opinion alone

                              "Politicians are like diapers. They need to be changed often and for the same reason"

                              "We fight not for glory; nor for wealth; nor honor, but only and alone we fight for freedom, which no good man surrenders but with his life"

                              Comment

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