COMEX Default Banks are the only one selling paper Silver?

[Fitrade]

Great video, I like to talk about Silver and Gold on my youtube channel as well.

[U2ForNow]

How is that Comex default working out for you? ;)

[davincij15]

How did that COMEX of 1 kilo bars working out for you? Oh that's right you can only get cash for your 1 kilo bars since Dec 31 2008. But hey that's not a default of gold you can trade cash for... um cash. LOL

Isn't that cool you can by a COMEX contract that sets the price of gold but never get gold. No manipulation there eh?

Cash only mini silver contracts where made available in April. No need for the exchanges or sellers to have pesky physical gold or silver to cover their contracts.

[cerberus662]

so what? the comex is still trading, there is still food and water. stop this chicken little collapse stuff.

the end of the world is not here.

[davincij15]

@cerberus662

The end of the world will not come for 100s of millions of years. The sky is not falling and the world will not end if the dollar does. Paper money has got to zero over 3200 times in the last 2000 years people are still here.

[cerberus662]

@davincij15

get over it you wannabe know it all.

[UNTC321]

if they loose control of silver watch it go to $50+

[cerberus662]

who says they will lose control???

[kryogenikz]

Yur amazing man!!! NO homo!

[TadRapidly]

So you're saying that before silver/gold goes way up, it will go way down?

[davincij15]

Yes but I could be wrong but based on what I have learned that's what should happen. So the question is do you think the banks will be able to crush gold and silver in the sort term or do you think they will fail. That is bet you are placing if you buy your gold and silver today.

My position is set so I am betting they will do it.

[TodMcInerney]

Its good that you have a counter view ie: that gold and silver will be supressed futher. Its certainly something to think about ... as you point out the pm's were supressed so far this year ... I'll mull it over ...

Where will money from the teasurys go ... as we know it will only take 5% of the money coming out into Gold and Silver to the make PM market get up and start to boggie.

[TodMcInerney]

I wonder whether there will be a devaluation of all currencys against gold before the teasurys go pop. If revalued enough and a ceiling set on the price then most of the money coming from the teasurys will have to go somewhere else. (ah la FDR)

I've enjoyed watching your clips ... please most more ... you provide an interesting take on things.

[TodMcInerney]

I think what you are saying is that they will continue doing what they are doing and the intervention just gets bigger and bigger ... if so the logical step at some stage would be price and ownership controls on gold in particular.

[davincij15]

Actually it will only take less than 1% to make silver into a weapon of financial destruction as it is a 1 billion a year market and there is none left.

The sick thing is i go to my bank and I want a silver coin I don't care what I pay for it, just go get it, and they can't because there is none. This is not free market!

[TodMcInerney]

Point taken ... In Aus there are still a couple of bullion shops where you can get same day delivery of silver

1kg bars

100 oz bars

15 kg bars

buying silver coins is a bit more of a problem here in Aus ... not much of a range to choose from and people are becoming more reluctant to sell.

First majestic (silver miner) gets 5-10% of its production sent to the North West Territory Mint ... which first majestic sell on there web site, coins and small bars. Delivery every 2 weeks or so.

[misterkel10]

Question: I checked the vaporize the comex site and wondered about the difference between registered and eligible gold (or silver). Is registered a subset of eligible or is it separate?

Why can't the Comex simply register the eligible gold to deal with any major drawdown? There is a lot of eligible gold vs. registered.

[davincij15]

Eligible gold belongs to someone who are storing it at the COMEX.

[misterkel10]

So some of the eligible gold could belong to the shorts? Is the eligible gold meaningless to the Comex bust scenario? There's a lot of eligible gold compared to registered. Sorry to be a pest, but I'm trying to get some clarity here and I'm a newb.

[patriotsundergod]

What do you think about Gerald Celente's assertion that world central banks will dump their gold reserves in mass during the early part of '09 in an effort to drive the price down. I'm thinking of waiting until then in order to fill my position.

Regards,

PUG

[turboredcart]

I agree with your assessment. I am not an expert... but being that 2 banks have 6x the shorts as normal, that in itself is telling. Any price decrease should be viewed by the small timer, as a means to grab a few more ounces.

[AMattDavidFilm]

I think we're starting to see Gold/Silver begin to align itself (Very slowly) to the fair market. However I believe the sudden drop in Dollar/Euro has had more to do with it than the Comex Deliveries (A prediction I made, and up till now, have been incorrect on). Guess we'll see.

[prepare2008]

$145,750 the price of a single roll of toilet paper in Zimbabwe 2006. I just bought a $100,000,000,000 (100 billion) note from ebay

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved

Ludvig von Mises

We are at the point of no return

[mongobobo]

Look..

To compare the USA economy with the Zimbabwe economy shows you have no idea what you are talking about.

[davincij15]

He did not compare the US economy with Zimbabwe you are drawing your own conclusions.

He talked about the catastrophe of the currency in Zimbabwe then gave a quote from Ludving Von Mises and asserted that we are at a point of no return.

You can argue his assertions nothing else as you can not argue the point that printing money to excess will not cause hyperinflation.

[prepare2008]

precisely davincij5

[prepare2008]

look..

To respond the way you responded shows you have no idea about about the Fed,Bernanke or the corrupt banking system, Keep your dollars in the bank!!

'The blind continue to lead the stupid'

[mongobobo]

prepare2008,

You believe in an immediate dollar failure no matter what with a religious fervor so there is no talking to you. Either you believe we are headed for a depression (dollar up) or an economic rebound (dollar down). Look at the markets. The dollar is the inverse of the DOW. If you believe that we are headed for a hyperinflation depression you simply don't understand the current world we live in.

[misterkel10]

"Either you believe we are headed for a depression (dollar up) or an economic rebound (dollar down)."

Dollar down (devalued) is not, ipso facto, an economic rebound. See 'Zimbabwe.' This is like asking 'Is your favorite color red or green?'

It's neither. There are other ways for the scenario to play out.

[ehrenk1]

glad to finally hear the words jp morgan. Those are really the only two words one needs to say when looking at the precious metals market.

[PlatinumGordon]

Great update. Thanks mate.

[frontier1701]

IF INTEREST RATES SHOOT UP, WHAT WILL HAPPEN TO THE PRICE (nav) OF BOND MUTUAL FUNDS?????

[davincij15]

I don't know.

[hrosemd]

"And that after this is accomplished, and the brave new world begins,

When all men are paid for existing and no man must pay for his sins,

As surely as Water will wet us, as surely as Fire will burn,

The Gods of the Copybook Headings with terror and slaughter return!"

What could go wrong, right?

[dojufitz]

So this fake Carribean bank is 4th largest holder of treasury security and when the bubble pops the Carribean bank collaspes and lessens the fallout in the US & no one gets hurt?

Is that the plan?

[davincij15]

I don't have 100% grasp of the bond market.

[jjrglobal]

I don't think it's possible to grasp the bond market unless you are privy to information not available to the public. I know bond traders and I know they don't understand it either. They'll try and tell you some bullshit that doesn't make sense, but that's just it, it doesn't make any sense. When is my $100 oil coming back? When the dollar falls to nothing? The market is so distorted right now, who knows wtf to do? I'll say this, my co will not be selling at $40Bbl, we'll shut in.

[davincij15]

jjrglobal:

Oil is not coming back to 100 for a long time. (6 months to a year or more)

The dollar will not fall to nothing that is not the plan however it still may happen.

Yes the market is managed by banks and you just need to see what they want to do. (note: some times they make mistakes.)

[prepare2008]

no thats not the plan the next step of the plan is for Bernanke to buy up the treasuries once the interest rate hits 0 (Zero interest rate policy) in a desperate bid to inject cash into the market everything else has failed,this is what is called 'quantative easing' which simply means lets print that money

The whole world is gonna get hurt by this riots breaking out everywhere greece, iceland you name it

[KhmerD0g]

3 month t-bill is already at negative rate. that's right, this is insane. the 4 month T-bill is zero rate.

u notice the damage in greece riot is mostly banks, government building and foreign business like Ford dealers. it's more about the economic dissatisfaction among the youth who see their future down the toiler because of greedy bankers and politicians. they specifically want better funding for the education.

all american medias say the riot was about the teenager was killed by police.

[prepare2008]

Yeah i noticed how they made it look like it was the teenage killing when really it was about finance and economics these people had enough just like the icelandic people, what gets me is that these people are normally quiet and peaceful very rarely outspoken they must have been REALLY pissed off, so can you imagine what its going to be like in the U.S and the U.K and similar countries.

[misterkel10]

Totally right. I don't know the story behind the Greek riots, but when you know the MSM is BS, then the riot excuse of the dead teenager?

Obvious spin. There is no way for a nation to riot like that over one dead kid. What's the real story, though?

[KhmerD0g]

everyone will get hurt. the U.S. dollar is the world reserve currency. countries and people around the world who are using the dollar or peg with the dollar will get hurt, which is almost every country, except cuba, iran, syria, north korea, and some other countries.

[dojufitz]

Let me see if i have this right...

if the Bond bubble bursts - the dollar collaspes?

And people are talking about this bond bubble bursting next year?

And we can rule out a US debt default due to the printing press.

So everthing priced in US dollars will get more expensive?

[KhmerD0g]

correct. the burst may be next year or in two years. it's hard to tell but it will happen. the current U.S. economy can't viably sustain long. next 4 years will be the most economical turbulent in our life. China and Japan already stopped buying U.S. treasury. they just halted. they're not selling them either because they don't want to crash the U.S. economy, which could hurt them more.

we have not reach the bottom yet. we have more bad news to come.

[dojufitz]

I didn't know China & Japan had stopped buying them! That is a bad sign.

So they are not selling them in the hope US consumers will keep buying their exports....

i have prepared with bullion....just need to get a little more...& i need to start stocking food! Good luck.

[prepare2008]

Iran recently switched billions of thier reserves into Gold do you think maybe they know something big is coming:-)

[KhmerD0g]

they're under U.N. and U.S. sanctions over its nuclear program. to avoid problems they converted their euro and petro-dollar reserves to gold and transferred to asian banks. by converting to gold they avoid wild currency exchange rate fluctuate. it's also a political move. it's like sticking it to the U.S. and E.U. fiat currencies.

other than what had reported i don't know the inside scope, yet. will share once i knew what's going on.

[JRCrowley]

Thanks for the video, davincij15.  Informative, insightful and, as always helpful.

[dojufitz]

So are you calling a big price plunge in pms in Jan?

I might save my cash and keep my powder dry for a few more weeks....so i can pick up some better priced Gold.

[davincij15]

That's my plan.  But I have my position set already I am just waiting for the opportunity I see coming thanks to your unfriendly neighborhood bank.

BTW: I could be wrong for 2 reason, a major unforeseen event or banks get out of their short positions.

[carlfinkle]

The main aspect of Silver and gold certificates is that you are basically making an interest free loan to the bank.

Where they get your money, then they can hedge there risk on comex and keep the balance between the cost of the margin on the hedge and the money you paid them and then lend it out.

They get your money and you get all the risk.

[Beatleha]

It seems to me, if you're going to invest in Silver, you actually purchase the precious metal in coin or bar form, for physical control.

Buying Silver on the market would seem to be playing the game that is has created this mess...

I don't trust any investment I can't actually hold in my hand. Period.

[magichandpuppet]

thanks davinci!

[hqlion]

Very informative. Thank you

[formulaprimer]

Read my post on your previous video. Good work.

[swiitboard]

If Comex can't deliver its gold it is defaulting. They are supposed to hold gold, also for foreign countries like russia

[shouldlistentoronpau]

Always informative. Great work.

[davincij15]

Thanks.

[lightleague]

Thanks for all your work, good videos.

[prepare2008]

I agree the banks are trying to discourage investors out of Gold and Silver by driving the (paper) price down I think these people will be victims of the coming hyperinflation, I also think this is why the banks are also saying that they will guarantee savings.

[davincij15]

The banks objective is to prevent hyperinflation and to have just high inflation. This time I am not betting against the banks I am holding cash to buy silver at a lower price than today's.

Besides I have enough silver if I am wrong and the banks lose.

[prepare2008]

or pretend to fight hyperinflation;-), Im holding cash for more purchases too although I feel the metals wont drop much further im happy at these levels still very cheap considering things are esclating rapidly, hope it stays like this for longer there are more things I need to do.

[davincij15]

Hyperinflation of the world reserve currency kills the goose that lays the golden egg. No, the bankers want to keep the ability to create money out of nothing.

I am sure it will stay down for a while it's a gift from your unfriendly neighborhood banker. Don't squander it buying paper gold and silver.

[prepare2008]

No the endgame is hyperinflation this will bring about the collapse, global government and the new bretton woods agreement that Gordon Brown and Obama are pushing for remember these guys want full scale nationlisation of the banks. The bankers are just pawns in this game.

All hell is going to break loose when this thing goes into gridlock and the paper investors and also online investors realise the scam.

[davincij15]

No, think about it. I was sure that the banks would go bust in September and they did but the resulting fallout did not occur.

This Amaro thing was introduced on TV first. And the banks are the ones in control they always have been. Check out "Money as Debt" or "Money Masters".

Remember the can destroy dollars just as easy as they create it. Don't be fooled into taking one path. That's how they screwed everyone on oil.

Stay focused beat them at their game don't be a victim.

[misterkel10]

'Hyperinflation of the world reserve currency kills the goose that lays the golden egg. No, the bankers want to keep the ability to create money out of nothing.'

Not if it's replaced by a global currency or a regional currency or some such con-job. Then it wipes out the middle class of America, and we're all serfs then, baby.

[davincij15]

Sure that's the end game but will it work right now. I don't see it unless all markets around the world shutdown or all money go into hyperinflation.

Well no matter what we will see some dramatic event that affects everyone in the near future. (less than year)

[misterkel10]

Sure, I think it plays out like this (for the big baddies who want global gov/currency): heavy deflation wipes out the debtors, homeowners equity, small companies, large companies not connected, etc. Two years, give or take. Then comes the hyperinflation wiping out the middle class, who being a bunch of TV watching turds (my family, for example) will just wait to be flushed.

That's how I'd do it.

[prepare2008]

I think it will play out like this too but it will be a hyperinflationary depression because Bernanke and those from his school of thinking do not want deflation they will fight it he said this back in 2002 so its fast track to hyperinflation

[prepare2008]

Too many serious economic problems converging at the same time I think all markets will shut down soon.

Im thinking of getting some silver and putting it switzerland I dont trust these guys

[Peridolin]

Ok.

Lets assume you are correct about the treasury bond market bubble "exploding" in February.

What does that mean for the average Joe?

[davincij15]

Keep cash. Buy silver once it goes down. Bonds exploding has nothing to do with you if you do not have any.

Cash will be king over the next 3 months. (Just not at your grocery store. Food will be more expensive.)

[prepare2008]

It means financial armageddon, Dollar collapse, life savings wiped out, pensions wiped out, the 2nd great depression, unemployment like youve never seen, riots, soup kitchens the list goes on and on

[boots920]

Silver Certificates - I know of a friend that just went through the delivery process, what a disaster.

When buying precious metal it has to be physical, never understood that until observing the delivery process.

Fiat Silver and Gold is the the same as fiat money, backed up only with a promise. When's the last time you've seen anyone in power government or company that treats its word as good as gold. That's how trouble the paper money system is in, as good as snake oil salesman's word.

[glassbuddha]

Are u wake this early??

[davincij15]

Went to bed early.

[KhmerD0g]

damn, u are good. i have heard the U.S. government is setting up a fake hedge funds called "Carribean banks" to buy up treasury securities. it looks like the U.S. is financing its own debt. check out the Treasury website. the "Carribean banks" all of a sudden popped up. it's 4th largest holder of treasury security after china, japan and U.K. such a short period it displayed the rich oil mid-east countries. this is bad.

[MelodicNightmare]

Yes, I've heard of this and suspect it's correct. The US FED in disguise.

[KhmerD0g]

yes, we don't know which carribean banks are real and which are fake set up by the FED. they just lump all carribean banks together. i have heard U.K. also helps the U.S. in this matter because some carribean territories are control by U.K. i doubt the carribeans have this much of money to lend to the U.S. they don't have oil, they have tourism but who going to vacation in time of recession-depression?

[SilverWealth23]

Thankyou for your hard work!