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Old 10-06-2008, 05:00 PM   #1
pegasusjtr
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Exclamation Buy Silver & Gold Right NOW!

I went to a coin shop in Oakland, CA. this morning to learn that someone had bought their entire stock of American Silver Eagles, a total of 86 coins at a total estimated value of $1,500 U.S. dollars. In addition, their entire stock of American Gold Eagle coins were also purchased. Obviously, I was disappointed and that everyone should be aware of this.
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Old 10-06-2008, 05:06 PM   #2
Rocky_Shorz
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Default Re: Buy Silver & Gold Right NOW!

Well I noticed as the markets were sinking, that people weren't jumping into electronic metals...
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Old 10-06-2008, 05:24 PM   #3
TAXMASTER
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Default Re: Buy Silver & Gold Right NOW!

Rocky,

The electronic markets are manipulated. The metals are kept low for a reason. If you look at the dollar index, it went up again today. What a crock. That is why there is a gold/silver shortage, because supply and demand do not calculate in the price. This is why dealers charge a surcharge on the spot price.

a brief example is as follows:

on the futures market, somebody wants to buy a futures contract on gold. You need about $7500 to buy a contract to buy 100 ounces of gold. Market value $90,000). When you buy it the price that gold is at that point determines what you bought it for. in other words if the price was $900 then you bought $90,000 worth of gold. if the price goes up $50 an ounce then you can sell your contract and get your $7500 back plus the profit of $5,000 (100 ounces X $50 per ounce) Of course if the price goes down, its the reverse.

now lets assume that most people buy only on speculation and do not intend to take delivery. That means they sell and cash out before the contract comes due. So when you buy a contract you do not buy the actual gold, you buy a promise to buy gold at a specified date. The gold is kept in cental banks and they are not audited on the actual amount that they have in their vaults. The bank then leases the gold to a speculater that then sells this gold on the market. If there is more supply than demand then the price goes down. they flood the market with this paper gold which drives the price down. after the price drops so much that it scares out most of the investors, these same speculaters then buy a contract to replace the contract that they sold at the higher price and in essence give the gold back to the bank and keep the profits.

this my friends is a simple but effective way to describe how it is done. no gold or silver changes hands, its all on paper. this will unfold at some time in the future and that is why george greene and others say to own the actual metal itself instead of a future contract or an ETF.

Namaste'
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Old 10-06-2008, 05:55 PM   #4
Ampgod
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Default Re: Buy Silver & Gold Right NOW!

Yup!

Physical possession is key.


Peace,
Ampgod
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Old 10-06-2008, 05:56 PM   #5
Rocky_Shorz
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Default Re: Buy Silver & Gold Right NOW!

where can we find how much paper gold/silver is in the market?
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Old 10-06-2008, 06:18 PM   #6
TAXMASTER
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Default Re: Buy Silver & Gold Right NOW!

www.kitco.com

for spot prices

namaste'
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Old 10-06-2008, 08:48 PM   #7
Argyll
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Default Re: Buy Silver & Gold Right NOW!

According to the London gold fix the price of gold has jumped £25 ($39) per ounce since this morning.......that seems like a hell of a leap!
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Old 10-06-2008, 08:50 PM   #8
Rocky_Shorz
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Default Re: Buy Silver & Gold Right NOW!

Quote:
Originally Posted by Contactee77 View Post
so by this link, it looks like ~120 Million ounces more than what is stored in banks.

That still sounds like a small number compaired to what I was expecting...

did I read it right?

300M ounces total above ground silver today, the rest is paper

I wonder how much of the 300M is in coins not sitting in bank vaults...
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Old 10-06-2008, 10:51 PM   #9
Rocky_Shorz
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Default Re: Buy Silver & Gold Right NOW!

strange coincidence, or is it...

my coin dealer called to say a Chinese man with a Briefcase walked in and bought up all of his silver and gold, wanted to know if I was interested in selling him back one of the bags of quarters...

The paper metal market has come to a standstill, everyone is moving towards hard metal, and it is disappearing quick...
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Old 10-06-2008, 11:00 PM   #10
pineal-pilot-in merkabah
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Default Re: Buy Silver & Gold Right NOW!

Quote:
Originally Posted by Argyll View Post
According to the London gold fix the price of gold has jumped £25 ($39) per ounce since this morning.......that seems like a hell of a leap!
wait till the money bubble illusion bursts.. gold will be £1000 ounce
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Old 10-06-2008, 11:05 PM   #11
zorgon
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Quote:
Originally Posted by TAXMASTER View Post
this my friends is a simple but effective way to describe how it is done. no gold or silver changes hands, its all on paper. this will unfold at some time in the future and that is why george greene and others say to own the actual metal itself instead of a future contract or an ETF.
Of what use is Gold on Paper?

Of what use is investing in Gold if they open Fort Knox like they did last time and the next Monday gold plummeted to a record low?



Hey Rocky... if you want some of the real metal... drop me a line and I can tell you where you can buy some
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Old 10-06-2008, 11:06 PM   #12
eurosceptic
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Default Re: Buy Silver & Gold Right NOW!

Anyone got any tips about anything else to invest in (ie - Physical stuff!) other than gold and silver, specifically in the UK?

Anyone?

Where are the best gold and silver dealers in the UK???
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Old 10-06-2008, 11:14 PM   #13
Suriel
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Wink Re: Buy Silver & Gold Right NOW!

I have a white gold wedding ring. Does that count?

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Old 10-06-2008, 11:56 PM   #14
eurosceptic
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Default Re: Buy Silver & Gold Right NOW!

i have lots of plastic this PC for example! maybe I can melt that down, print my own coin stamp on and get barterin'

Last edited by eurosceptic; 10-07-2008 at 01:23 AM.
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Old 10-07-2008, 01:22 AM   #15
Connecting with Sauce
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Default Re: Buy Silver & Gold Right NOW!

Quote:
Originally Posted by eurosceptic View Post
Anyone got any tips about anything else to invest in (ie - Physical stuff!) other than gold and silver, specifically in the UK?

Anyone?

Where are the best gold and silver dealers in the UK???
I was recommended this place by a friend who used them

http://www.goldline.co.uk/

Not sure if this is the best thing to do or not...

Thre are guys on ebay selling silver bars just be decerning... and quick.

John
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Old 10-07-2008, 02:21 AM   #16
Mizar
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Default Re: Buy Silver & Gold Right NOW!

I visited my local Gold Shop last week, more people were exchanging money to go on Holiday than anything else, I was the only one buying Gold, lots of supply of everything except the US one ounce Buffalo Coin.
M
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Old 10-07-2008, 02:41 AM   #17
Rocky_Shorz
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Default Re: Buy Silver & Gold Right NOW!

I wonder why Canada isn't having the same run on Metals as the US?
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Old 10-07-2008, 02:55 AM   #18
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Wish I could by loads of gold and silver, problem is all my savings are tied up in the market

If the market doesnt bounce back up soon I will be bankrupt
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Old 10-07-2008, 03:08 AM   #19
astraya
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Default Re: Buy Silver & Gold Right NOW!

Quote:
Originally Posted by Rocky_Shorz View Post
I wonder why Canada isn't having the same run on Metals as the US?
We are!
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Old 10-07-2008, 03:09 AM   #20
Mizar
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Default Re: Buy Silver & Gold Right NOW!

What's happening in Calgary?
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Old 10-07-2008, 03:19 AM   #21
astraya
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Default Re: Buy Silver & Gold Right NOW!

I bought gold two weeks ago from Scotiabank and that was o.k. then went to buy silver the next day and they had just sold their last pieces. So I went to the coin dealer and got quite a few and went back last week again for more and they were limiting each person to 100 each because the mint had suspended their orders. They have no idea if their (long-standing) orders will be filled. They said it was due to excessive demand from the States and this situation is unprecedented.
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Old 10-07-2008, 03:21 AM   #22
truth-freedom
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Default Re: Buy Silver & Gold Right NOW!

Just wanted to add my two cents here. I used Goldline as someone above mentioned. My account rep there advised me to buy private silver because there is some talk of the confiscation thing being called in again. The 'junk silver' that George Green talks about is private and not confiscateable like bullion is. I bought Ben Franklin half dollars which are 90percent silver. As long as you spend at least a thousand dollars US you can order from an actual person. Less than that and you have to use their online store. Delivery time right now is about three weeks. If nothing crazy happens in a few hours and we can still make transactions, it's definitely the place to buy from. Anyone who wants more info or phone number and extension of my account rep can PM me and I'll be glad to share info. They have never not bought back their metals AND you get a satisfaction guarantee on your first purchase with them or your money back.
Hope we all have a peaceful tomorrow!
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Old 10-07-2008, 03:26 AM   #23
Mizar
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Default Re: Buy Silver & Gold Right NOW!

Astraya;
Thanks for the post, I had heard that US dealers were out of everything, but was not aware that they were cleaning us out as well. 100 coins is over 90 Large if you are buying one ounce .999's, How are they getting that kind of money across the border?
M
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Old 10-07-2008, 03:28 AM   #24
astraya
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Default Re: Buy Silver & Gold Right NOW!

100 coins x about $17.50= $1750
that's not so hard to get over the border? and they also accept credit cards...
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Old 10-07-2008, 03:33 AM   #25
Rocky_Shorz
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Quote:
Originally Posted by zorgon View Post
Of what use is Gold on Paper?

Of what use is investing in Gold if they open Fort Knox like they did last time and the next Monday gold plummeted to a record low?

Hey Rocky... if you want some of the real metal... drop me a line and I can tell you where you can buy some
I was just surprised what this guy told me, he had racks and racks of them, he sold them all...

Hearing that it is going on up north has me wondering if someone is buying up everything they can find.

I've been buying up poor condition quarters 90%...

Take a look around and see if things have changed in the last week.
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