Interesting to see what the if there will be any major impact from the Pan Asian Gold Exchange coming to fruition this Oct..... what a novel idea contracts backed by physical metal 1:1 :) Is the Comex and LBMA truly finally going down?
75% of what they once had in inventory is gone this year, silver is backwardated $1 15 months out, meaning you can sell silver now and make $1 per oz plus get your silver 15 months from now if you believe it. LOL
Clearly traders don't so why should you.
I am surprised it gap is that large with interest rates so low and no one is willing to risk borrowing to buy silver and sell to earn a $1 per oz spread? That means the big money sees a default risk.
FREE...hey divinci Im giving away 2 ounces of silver from scottsdale silver .. on my blog check out the contest .I would be honored if you entered. blog is on my profile... Thanks "The Consultant"
HI... how do you know all these? What do you read? and who do you listen to ? .... ... ... I just buy silver a little here and there and that's it. Because I've learned its good to buy them.. but I feel like I am missing huge chunk of education.
The CFTC is like SEC and will do nothing to stop fraud like Madoff in the COMEX.
I read Ted Butler but I also investigated his claims, their accurate so much so it's obvious to anyone that takes the time to understand it all. Thus it makes no sense that the fraud has not ended yet.
Pretend everything you read is false until the data has been verified. That's what I did, man was I shocked.
what he's talking about is the old adage of fractional loaning. In order for you to even get near the buying limit of gold or silver, you have to have millions and millions of dollars but for the regular joe it aint gonna happen.
The question that I have is if the dollar is going to collapse permanently this time, and silver goes up to $2000/ounce, would you want to cash it in for said profit? I believe that there is going to be a final fall of the dollar that will never recover and a new monetary system will be set up when the right people take the country back. You might say to yourself, " Wow, I sold my $100 worth of silver for $20,000. I made a huge profit!" But now you are still stuck with dollars-useless paper.
That is true however, the reason you sold it for $20,000 is because the money is worthless and most people are poor because they saved in paper money.
Thus we will see a deflation of prices when priced in gold and silver.
You see I don't want silver and gold for dollars, I want it for what it will buy. And will buy a lot in North America once the dollar collapses because people will be sell stuff and fire sale prices just to eat.
I guess what I am saying is that if you take advantage of a peak in silver prices, since timing is everything in terms of buying and selling commodities, you want to sell it before it drops again to get the most profit out of it. But when you sell it, you get dollars in return. Do you recommend just exchanging that value out for gold? And if you do, will you still have to pay taxes on it if you exchange it for gold instead of dollars?
Actually the default did happen on Dec 31 2008. As of that date you are no longer able to receive delivery on mini contracts on gold.
And silver now has mini contracts that affect the price but you can not take delivery. So is that a default if you can't get what you purchase but you can get the cash? lol
Every single one of these failed/bailed out companies had outsourced to INDIAN companies a few years earlier. Indian conman Azim Premji and his company Wipro are grifters. AIG, Lehman, Merill, GM, Sun, PeopleSoft, ALL of them used Indian outsourcing companies. India's workers are ranked 124th in world productivity while Americans are ranked FIRST! FOUR MILLION Indian workers have come into USA to take jobs since 1998. FOUR MILLION!
I also made a frivolous purchase. I bought a 2008 Yamaha YZF R6 as I've been riding motorcycles for 15 years and have never had anything nicer than 2000 dollar beaters. I know it's a silly purchase, but man is it fun riding something that puts out 118 HP and weighs 350 pounds.
That's cool money is for spending on things you want as well as need.
You may be kicking yourself a year from now as they may be going for half or less when priced in gold or silver. Stuff like that will dirt cheep when hyperinflation hits.
But at least you get to enjoy it right now and that may be worth it to you.
actually, a 2009 R6 is 3000 more because of the Yen going up. In any case, I need to buy a new car down the road, so maybe I'll buy that with gold haha.
No, I didn't get around to buying the silver. It seems that sorting out my mom's estate and fixing her place up and school plus living expenses were more than I optimistically thought. I have enough cash to finish school and pay my expenses til the end of my program in june 2010, but I do have 33 oz of gold :) So I guess I should be happy with that. All the gold bugs are saying that gold just finished a cup and handle pattern and is set for a huge upturn, which will hold true for silver.
I also had to shelter my mom's pension in something called a flow through account here in Canada. It's 80% based on oil but also includes precious metals. It's one the only tax shelters left in Canada so I didn't have much choice other than handing over half her pension to Rev Can. Fortunately it collapsed 80% right before I bought in to it, so I'm pretty sure it will fair well as oil has already gone up a lot since my purchase when it was only 35 bucks a barrel.
Right now only 5% of silver is owned by investors, the rest going to electronics and jewelry. That could change when inflation skyrockets. Silver works great as an alternative to the dollar in times of crisis. If you own it, you're going to be better off.
There is another reason silver will go down - in the deflation stage of the economic crisis we are in the midst of industrial demand for silver will go down; in the inflation stage people will stop caring about silver as an industrial metal and will use it as a medium of exchange.
Who knows, but in a world where the dollar goes to zero (save the heating value), I know the lead bullets in my gun will be worth a lot more than any gold or silver.
> Who knows, but in a world where the dollar goes to zero
> (save the heating value), I know the lead bullets in my
> gun will be worth a lot more than any gold or silver.
You really don't have a clue what it's like to lived in a country after a collapse. It's just as easy for a little old lady to blow your head off as it is for you to kill her.
Yes it a big setup. There is not as much silver and gold available as they sell on paper.
For example a bank offers an ETF and then in the news is published that the bank has big problems and people want the delivery you can be sure that you dont get the silver or gold you signed for.
The same bank scam: Make money out of nothing and promises.
All good info - except i dont think the comex will go down when the default occurs... my reasoning is that the paper price for comex nickel didnt fall, it went through the roof when nickel was defaulted on a few years ago. Look at the past to predict the future.
The comex wont be shut down either... it wasnt with nickel.
my thoughts only... but love ur vids.. keep it em comin!
I've already got a fair bit of gold, but I"ve been reading up on silver and a lot of experts are saying it's even more undervalued than gold, so I'm going to purchase around 1000 oz if I can't get my hands on it. The only problem is storage. I'll figure something out.
to trevormac77: I know 3 mos have gone by since your posting here.......did you ever buy large quantities of silver? Actually storing a 1000 ozs of silver does not take up much space really
Do you think they will attempt to inflate our way out of debt? China would be rather purturbed if they did. The Chinese are not exactly someone you want pissed off at you.
Ask yourself this as prices fall do you think that the government and banks want to pay back debt when it's harder to obtain dollars via stuff people sell and employment?
Then consider how many time King Paulson went to China (FYI more than any cabinet member in the history of America) and think about what they talked about.
Good point. I noticed an article not too long ago where one of China's main state owned banks has been given permission to set up operations within the US. A precursor to buying up insolvent US banks and US consumer debt perhaps?
US Consumer Debt is toxic paper. Credit card backed securities stop selling on the market back in Early November right when AMEX became a bank in one day.
Thanks for answering my questions. Here is one more and I will leave you alone. What if they (the Chinese) buy up failing banks and then start calling in mortgages and gobbling up real estate and whatnot. Tangible goods and property are much better than a line in some ledger.
That carries political risk. Meaning the government may stop them from doing that. Besides the banks are broke and with defaults not just in homes but in commercial still to come anyone who would buy a banks would take on all those potential liabilities.
Banks are toxic, if anything they will buy producing assets.
i need help, Let's say i bought a bunch of silver and gold last week. A year from now gold will be at a high cost and the dollar becomes worthless and lets say i want to buy some groceries.
What will i do with the gold and silver i have when i want to use it? Do i give a gram of gold as payment, do i go to the bank and exchange it for money, or find a place to sell it for cash?
I don't agree that prices will fall if COMEX default, it will burst upward because of the demand for the physical product. For the prices of gold and silver, we are talking about the SPOT market not the futures market, thus even though no one plays in the futures market, spot market prices should not be affected.
I see paper prices going down with physical going up. It's already started 2 weeks ago when gold went into backwardation where all future contracts are cheaper than present or short term contracts. This is not normal for gold.
If you understand the price of money you will understand how this is already a two tier pricing for gold. A paper price that is cheaper than a physical price.
A gold certificate is a derivative that you have probably heard about. The definition of derivatives is it's value is based on the value of something else.
But when you buy it the banks do not buy gold for you the just take your money and owe the price of gold when you cash it in.
So not only are you not holding gold you are helping the banks keep gold down.
I agree with Jason Hommel and Theodore Butler, if they really have silver and gold there in pooled account provide the serial numbers of the bars.
Other pooled accounts do so.
Sell your certificate get allocated from the Perth or real stuff.
Just keep in mind when the shit hits the fan at the Perth you may have issues. That's why physical is so much better you can insure it yourself and fell it touch it and see real wealth. Nothing beats holding it in your hands.
I cashed out my 401k and bought 90% silver before the crash. I bought at like 54:1 16.42/oz, hoping after the crash monetized gold makes silver goto 15:1. Unless the US comes off of some SUPER high tech and only allows it to be sold in the dollar, the dollar is over.
Yes the next bubble must be bigger than housing, but the failure of so many banks is the sign that the dollar has ended. One of the many reasons banks conspired to create a fiat system is to save them via the printing press hen they make mistakes and dept based system is designed to end with waves of defaults when the dollar can no longer exponentially expand.
Perth mint is only suspending the delivery of NEW GOLD coins and bars that it refines. However, there is a lot of allocated gold at the perth mint which trades hands.
a couple of days ago they had a 14 week waiting time. i was at a distributors in sydeny australia, picking up 70kg of silver bars. i had to use a furniture trolley.
i heard they supressed the real value of silver. so they scewed you if you hold it, do not know when it will break out... maybe never but it should be in the high 20's. Yeah the contracts are a big joke and it shouldnt be legal, so much of what goes on on wall st is a scam.... and obama needs to fix ,make it fair for c sake
Obama voted for the Patriot Act, the Military Commissions Act, and voted for the 840 billion dollar "bailout".
If you think he's going to change ANYTHING, you didn't bother to do any basic research before you voted, but only a few did - and they support Ron Paul and Mike Gravel.
And if you think I support McCain, McCain voted the SAME WAY on all those bills.
It says on GoldMoney's website that the gold or silver you buy there isn't a "paper gold" product. So it isn't dependent upon the ETF's, certificate issuer's or pool account operator's ability to obtain and redeem metal for you when you want to sell it.
at 6:30. good point. because they depress silver for so long many mine companies and individual investors are pissed that they wanted to crash comex. same goes for gold.
First, (it is pronounced CO -Mex). Secondly, COmex is the exchange of which Gold,Silver and copper futures trade. Not only that , but, if everyone who purchased futures on Comex asked for delivery and all there were short sellers, that would drive prices up because the sellers who sold the "paper" contracts could not deliver the physical commodity.Also, there is no uptick rule in commodities and there still is no uptick rule in stocks.
As I understand it. The premium for physical silver is is about $5-10 over spot, that is if you can find it or in any quantity. The disconnect between the 'street ' price and Comex will continue to grow. When they begin to demand delivery, the Comex price will suddenly correct up. The 'street' price will not follow the Comex down and may remain at $15-20 and rise once contract buyers decide the real thing is more valuable.
It has the potential but the likely hood is extremely low. Same with the US dollar, because the system would switch before it go to zero.
With that said if you had a COMEX contract in hand or a dollar in hand after the switch and they prevented the switch over after a specific date then it has reached zero.
But that is a technicality as no one would hold on to a useless paper if given an opportunity to exchange it for value.
You wrote "I care not what puppet is placed on the throne of England to rule the Empire, ...
The man that controls Britain's money
supply controls the British Empire.
And I control the money supply." - Baron Nathan Mayer Rothschild
That is exactly right, and the banks don't control the money supply, the Federal Reserve controls the money supply. There is a lot of difference between the banks and the central banks.
You have all the quotes memorized but you don't understand them.
Yep it's not like the Federal Reserve is owned by member banks.
Oh! WAIT!
My bad it is.
Anyhow enough lets agree to disagree your data points are all wrong and you are all over the place. Its difficult to go point for point with you. There are too many comments that making it impossible to argue a point. Because there are too many of them.
Deflation can't be controlled. Deflation is like cancer. You think well, just make credit and money easier and that will stop prices from crashing. That's what they are trying to do. First, they slashed interest rates. nothing happened, prices kept crashing. Banks started failing. Every time a bank failed money dissappeared in thin air. They started bailing out banks, but that didn't work. Banks stopped lending making more money dissappear. Each day more billions of $ are dissappearing.
Now all of a sudden, the very tool that they use to shackle us, the dollar, went under attack. The dollar started declining against most currencies and all commodities. The powerful were losing control rapidly. something had to be done, quickly. So, they killed inflation. The problem is that once you kill inflation, you get deflation. inflation can be controlled by restricting money supply, by raising interest rates. But, deflation can not be controlled. deflation is like cancer.
You wrote: "Money is not destroyed unless it is used to pay bank debt"
This is absolutely FALSE. Money is credit.
If I sell you a house for 100,000 and give you owner financing, I have created $100,000. If you don't pay and I take the house back, then that 100,000 is gone, destroyed. Same with the banks. They create money by making loans and when loans are written off, the money is destroyed.
At first, I didn't see you were making statements to which I could respond because I was writing.
But, I have now responded to your comments.
PLEASE, if I have answered them to your satisfaction, let me know.
If you see a flaw in my answers to your statements, please let me know what the flaw is and I will try again. Hopefully we can work through this difference of opinion.
I'm trying to help you and all people. And, I presume you are too. This is crucial business!!!!!!!!!!!!!!!
We fought bloody revolutions for freedom only to vote it away by electing actors and the Corporate Republicans.
Instead of feudal lords who shackled us when we didn't do as they told us, they take our dollars. It's a much friendlier type of slavery. It's an intangible form of slavery. It's also more effective because people think they are free and they work real hard chasing a dream. But, they make the dream harder and harder to achieve.
And, if you think those in power are going to lose power, well, then you are living in fantasy land. They use dollars to shackle us.
Since the beginning of civilization there has been slavery. They once used shackles. But people started demanding freedom. People bought freedom with their blood. but, they did get it through bloody revolutions. Then the powerful learned a new way to enslave us. MONEY They used to give slaves and peasants a home, now we even have to work for our house.
When everyone gets scared and panics, they want their money. When every one holds cash, there is no income because cash earns nothing.
When there is no income, prices go down.
This is a no brainer. No matter what logic you apply to this the price will crasn, gold and silver will get cheap and dollars will be more and more valuable.
And, if you think those in power are going to lose power, well, then you are living in fantasy land. They use dollars to shackle us.
Every great empire ended with debasement of their currency, why because it transfers wealth from the people who produce and save to those that consume and borrow.
Making rich very rich and the poor very poor.
This scam has been done over and over again in our human history.
INFLATION is wonderful. We've all enjoyed this thing called inflation. And, if inflation really picked up now and the dollar collapses, that would be heavenly!
If I owe $100,000 on my house and the dollar becomes WORTHLESS, then I owe nothing at all.
If Dollar = Zero, 100,000 X zero = zero
But, if the dollar gets scarce, if the dollar becomes more valuable, If everything is getting cheap, which is what is happening, I'm screwed because I owe $100,000and there is no way to earn money.
Bank leverage is 30:1 or more. This would make them rich as they own all bad assets because they can't sell it now. If dollar goes to zero they keep all the assets and it does not matter what they sell if for in the new currency. It did not cost them anything to get it in the first place. :)
If the dollar continues to exist banks are responsible for the unpaid debt in dollars. Since the assets are not worth in dollars what people borrowed. Banks owe that money not the borrower.
Dear davinciji15, First of all, the banks are not the power elite so it matters little if they all fail. In fact, by forcing the banks to sell PREFERRED stock, they are taking over the banking system. Second, when a bank fails, you still owe your mortgage. If you don't pay your mortage, you lose your home and now you rent.
you are off topic with what I have to do when I fail to pay the mortgage or disuse what happens when a bank fails. My point was directed at the fact that the bank owns the asset. And must turn it into cash to pay the debt or come up with the cash some how (under the current rules).
I told you, when the bank fails, the mortgages are moved to another bank. The failing bank is gone. If the failed bank had a billion dollars in notes receivable and all its customers defaulted, then the bank lost all the money it created. But, another institution will own the properties.
When investors get scammed as this video predicts, that is money that is now gone.
Investors losing money on stocks, mortgages, commodity contracts, real estate, just name what you want, every where you look people are losing money.
The government is trying to offset this loss in value but the government is obviously not keeping up because the values just keep dropping like dominos, just as I predicted they would. That's DEFLATION, NOT INFLATION.
I have you in a corner ForTheRecord: Money is not destroyed unless it is used to pay bank debt. it is only transferred to other people. For example if I should short the Gold and silver it was transferred to me. The difference between a high price and a low price is the transferred amount the same goes in the opposite direction.
For example when the price spikes for gold and you want to buy I am getting the difference from what I paid from YOU. :)
Also, if we have run away inflation, that will be wonderful for all who are in debt because they will pay off their debt with easily obtained dollars.
It has to be one or the other:
1) INFLATION will cause gold to go up and it will make it a snap to pay off our loans.
2) DEFLATION will cause gold to down and it debt will strangle us. Either the dollar becomes valueless and we all pay off our debt in a snap, or, gold will get cheaper.
I worked in the 70's. It was called "stagflation". Inflation was about 12 percent and the economy was slow. Nixon tried to stop inflation with price controls. But, this has nothing to do with the conversation. We had neither deflation nor runaway inflation.
True, the bailout measures in themselves are "not a reduction of money and credit." The list you made are ATTEMPTS to REFLATE the DEFLATION by trying to make credit to stop dissappearing. But, as you can see, they aren't working. As I said, DEFLATION CAN NOT BE STOPPED.
Money is credit and even giving massive life support to the dying inflation can not revive INFLATION. Deflation continues on despite all their attempts to put air back into the popped credit bubble.
most cities actually have licensed dealers that you can acquire precious metals. Every major city has several and many pawn shops as well. You always want to have physical gold. This is an EXCELLENT video...many people are on dangerous ground with this.
I recently placed an order for silver at the NWT mint. They processed my check and promised delivery by February 2009. They also said that if they fail to meet the order, they would refund my money in full.
So, I am thinking that they don't actually have the silver in their possession. It's possible that they're ordering it from miners or even the COMEX.
If silver futures go into default, I may be stuck with cash and a lost opportunity cost.
yep you will get your money back if they default. In the future you should not buy silver from companies that hold your money and use it as a float. If you can request your money back and buy from some one on Ebay as long as the delivery is under 1 week, 2 weeks at the very most. Thus any price < $20 is a bargain. But shop it out %50 over spot is the absolute best price but do not expect that on low volumes on EBay.
Thanks for the video. I now finally understand what people mean by "futures" and "futures contracts".
It sounds like COMEX prices for precious metals will never officially explode. The physical market on the street and on eBay will explode though. Unfortunately, I think prospective buyers of precious metals will be discouraged from making physical purchases since it will seem as though the premiums are unreasonably detached from the "real" price. It's a mind-f*ck, really.
"It is CRITICALLY important that you research DEFLATION and understand that inflation has been replaced with DEFLATION.
In the worst case of censorship I've seen on YouTube, VisionVictory deleted more than 20 comments I posted on his video "The End Game"
If you want to know more about why you should not buy gold, if you want to know why we are having DEFLATION instead of inflation, read the comments on Bright Anarchist's video called "Don't Buy Gold+
Thanks for explaining in laymen's terms. I finally understand this concept and understand what's going on. Paulson's crooks are 1) keeping commodity prices down so they can settle these contracts 2) keeping commodities down to hoist the dollar value where they can convert the stolen US money into real assets. These guys are crooks and you can rest assured that your gold and silver will either be illegal or there will be no method of paying with it...e.g..electronic sys 4 buying goods
Excellent info. Answer this question for me: Are you saying at the time of the comex default, that the comex price for gold (or silver) will be proportionately lower (in comparison with the physical market) than it is at present?
Yes the spot price on the COMEX will be lower when it defaults. The US Dollar is the world reserve currency commodities are purchased sold and purchased in dollars.
Now the world leaders are talk about a new world reserve currency. If that happens I think we can predict what will happen to commodities exchanges when a new reserve currency is developed.
Google "ECB's Nowotny Sees Global Tri Polar Currency System Evolving" (if you read between the lines it does not include the US)
I was with you until the end. Clearly there seems to be a growing discrepancy between the paper and physical market. As seen in the links you provided, this will ultimately lead to defaults. Jurg Keiner says this will cause the gold price to double overnight. But how will this make the Goldmoney price go down? They take delivery and hold physical gold.
Great explanation man - makes a lot more sense now. I was lucky enough to run across Jason Hommel's videos over a year ago so I knew always to take delivery - even if I wasn't sure how it all worked.
Thanks, the reason all commodities not just gold (check out oil) must be held down by the banks is simple. Dollars are only good based on what you can buy with them. If the prices of things go up that means dollar value goes down.
The banks are selling gold they do AND don't have as are many other wealthy entities in the futures market (shorting it) to drive the prices down and will ultimately hold more as they scare people out of the market and pay the contracts off with PAULSON's PRESTO PRINT PHONEY FIAT DOLLARS. HOLD GOLD and demand delivery if you have a contract.
Good stuff, but you are wrong about goldmoney, you can take physical delivery from them, but it will be 1000 ounce bars for silver and 400 ounce bars for gold
Thanks for the clarification however keep in mind they can with hold the gold and you can sue them but not for the gold but the cash price. Now I have not read the contract however it may be at the COMEX spot price.
No law requires dispute settlements to be paid in goods only. Sure a judge can order it but that does not mean it's legal for the judge to do so. If was legal gold would be money :)
Could they be doing this manipulate silver and gold prices even lower, so they can buy up all the physical silver and gold? After all if silver goes to $5/oz and gold to $500, people will look to dump the physical stuff as well. Sounds like banker tricks to me...
Silver in small sizes has disappeared world wide and gold is gone from most dealers. Large wholesale bars are still available but once the London and Zurich stop selling gold at the "official" price it will not be long after that. This happened in 1968, there was 2 prices for gold.
If I had to guess a time frame I would say before the end of the year, possibly we are just weeks away.
Wow! Your comment is one of the most intelligent things anyone has ever said on youtube. It makes a lot of sense. It didn't make sense to me that gold was falling, now I see the light....
Yes no ETF no Certificate program no futures contract and no goldmoney.
IF you do ask this question and get the documented answer what happens if COMEX defaults or shuts down? What if different groups are selling gold at different prices in that event?
Keep in mind that Perth Mint may hold allocated gold but they can default as well and pay you the cash instead.
This guy is way before his prediction. Good! Very simple explaination!!!
onceANexile 1 month ago
Interesting to see what the if there will be any major impact from the Pan Asian Gold Exchange coming to fruition this Oct..... what a novel idea contracts backed by physical metal 1:1 :) Is the Comex and LBMA truly finally going down?
essentialsearch 3 months ago
@essentialsearch
75% of what they once had in inventory is gone this year, silver is backwardated $1 15 months out, meaning you can sell silver now and make $1 per oz plus get your silver 15 months from now if you believe it. LOL
Clearly traders don't so why should you.
I am surprised it gap is that large with interest rates so low and no one is willing to risk borrowing to buy silver and sell to earn a $1 per oz spread? That means the big money sees a default risk.
davincij15 3 months ago
so did the comex ever default?
SelfLearningChannel 7 months ago
@SelfLearningChannel
Yes they stopped devilry on kilo gold but no one cared.
davincij15 7 months ago
Great video, I like to talk about Silver and Gold on my youtube channel as well.
Fitrade 9 months ago
FREE...hey divinci Im giving away 2 ounces of silver from scottsdale silver .. on my blog check out the contest .I would be honored if you entered. blog is on my profile... Thanks "The Consultant"
TheConsultant1000 1 year ago
Dude you have explained this tuff complex issue much easier than Ted Butler himself. Good Job. Keep it up .
Silverbuzzsuccess 1 year ago
@Silverbuzzsuccess
Thanks! :)
davincij15 1 year ago
you should write a book about this
arceusjudgment 1 year ago
Comex default? one and a half years on, and still no default. Huh?
ANTIDALLARD 1 year ago
HI... how do you know all these? What do you read? and who do you listen to ? .... ... ... I just buy silver a little here and there and that's it. Because I've learned its good to buy them.. but I feel like I am missing huge chunk of education.
urkingod 2 years ago
The CFTC is like SEC and will do nothing to stop fraud like Madoff in the COMEX.
I read Ted Butler but I also investigated his claims, their accurate so much so it's obvious to anyone that takes the time to understand it all. Thus it makes no sense that the fraud has not ended yet.
Pretend everything you read is false until the data has been verified. That's what I did, man was I shocked.
davincij15 2 years ago
what he's talking about is the old adage of fractional loaning. In order for you to even get near the buying limit of gold or silver, you have to have millions and millions of dollars but for the regular joe it aint gonna happen.
branman055 2 years ago
The question that I have is if the dollar is going to collapse permanently this time, and silver goes up to $2000/ounce, would you want to cash it in for said profit? I believe that there is going to be a final fall of the dollar that will never recover and a new monetary system will be set up when the right people take the country back. You might say to yourself, " Wow, I sold my $100 worth of silver for $20,000. I made a huge profit!" But now you are still stuck with dollars-useless paper.
MORCOPOLO0817 2 years ago
That is true however, the reason you sold it for $20,000 is because the money is worthless and most people are poor because they saved in paper money.
Thus we will see a deflation of prices when priced in gold and silver.
You see I don't want silver and gold for dollars, I want it for what it will buy. And will buy a lot in North America once the dollar collapses because people will be sell stuff and fire sale prices just to eat.
davincij15 2 years ago
I guess what I am saying is that if you take advantage of a peak in silver prices, since timing is everything in terms of buying and selling commodities, you want to sell it before it drops again to get the most profit out of it. But when you sell it, you get dollars in return. Do you recommend just exchanging that value out for gold? And if you do, will you still have to pay taxes on it if you exchange it for gold instead of dollars?
MORCOPOLO0817 2 years ago
Yes, it is true you will pay taxes if you accept dollars for your gold. But legal tender coins traded for goods and services do not.
The problem is all money originate from debt so someone some where will need dollars to pay debt.
I understand how you look at it, you see the Walmart or some shopping center is not going to take you gold or silver coin.
TRUE
They are the biggest debtors. However your mom and pop shop may not be in debt and they are the ones you should support.
davincij15 2 years ago
I remember watching this video in 2008 and have followed the Comex market ever since.
You shined the light on this for me and I am thankful. Keep up the great work!!!
TheUrbanSurvivalistS 2 years ago
This has been flagged as spam show
YOU GO MY HUMAN BROTHER.
TESARAC2X 2 years ago
12 months later and still no default.
TadRapidly 2 years ago
Actually the default did happen on Dec 31 2008. As of that date you are no longer able to receive delivery on mini contracts on gold.
And silver now has mini contracts that affect the price but you can not take delivery. So is that a default if you can't get what you purchase but you can get the cash? lol
davincij15 2 years ago
This has been flagged as spam show
Every single one of these failed/bailed out companies had outsourced to INDIAN companies a few years earlier. Indian conman Azim Premji and his company Wipro are grifters. AIG, Lehman, Merill, GM, Sun, PeopleSoft, ALL of them used Indian outsourcing companies. India's workers are ranked 124th in world productivity while Americans are ranked FIRST! FOUR MILLION Indian workers have come into USA to take jobs since 1998. FOUR MILLION!
indiasucksalways 2 years ago
I also made a frivolous purchase. I bought a 2008 Yamaha YZF R6 as I've been riding motorcycles for 15 years and have never had anything nicer than 2000 dollar beaters. I know it's a silly purchase, but man is it fun riding something that puts out 118 HP and weighs 350 pounds.
trevormac77 2 years ago
That's cool money is for spending on things you want as well as need.
You may be kicking yourself a year from now as they may be going for half or less when priced in gold or silver. Stuff like that will dirt cheep when hyperinflation hits.
But at least you get to enjoy it right now and that may be worth it to you.
davincij15 2 years ago
actually, a 2009 R6 is 3000 more because of the Yen going up. In any case, I need to buy a new car down the road, so maybe I'll buy that with gold haha.
trevormac77 2 years ago
No, I didn't get around to buying the silver. It seems that sorting out my mom's estate and fixing her place up and school plus living expenses were more than I optimistically thought. I have enough cash to finish school and pay my expenses til the end of my program in june 2010, but I do have 33 oz of gold :) So I guess I should be happy with that. All the gold bugs are saying that gold just finished a cup and handle pattern and is set for a huge upturn, which will hold true for silver.
trevormac77 2 years ago
I also had to shelter my mom's pension in something called a flow through account here in Canada. It's 80% based on oil but also includes precious metals. It's one the only tax shelters left in Canada so I didn't have much choice other than handing over half her pension to Rev Can. Fortunately it collapsed 80% right before I bought in to it, so I'm pretty sure it will fair well as oil has already gone up a lot since my purchase when it was only 35 bucks a barrel.
trevormac77 2 years ago
Silver has a cup and handle pattern as well I did not know gold had one.
davincij15 2 years ago
Right now only 5% of silver is owned by investors, the rest going to electronics and jewelry. That could change when inflation skyrockets. Silver works great as an alternative to the dollar in times of crisis. If you own it, you're going to be better off.
ElwynMaximus 2 years ago
There is another reason silver will go down - in the deflation stage of the economic crisis we are in the midst of industrial demand for silver will go down; in the inflation stage people will stop caring about silver as an industrial metal and will use it as a medium of exchange.
knab69 2 years ago
If the dollar goes to almost zero (it has heating value) what is the value of silver then?
davincij15 2 years ago
Who knows, but in a world where the dollar goes to zero (save the heating value), I know the lead bullets in my gun will be worth a lot more than any gold or silver.
bbn1980 2 years ago
That may be true during the chaos but not after bankers give you new money.
davincij15 2 years ago
> Who knows, but in a world where the dollar goes to zero
> (save the heating value), I know the lead bullets in my
> gun will be worth a lot more than any gold or silver.
You really don't have a clue what it's like to lived in a country after a collapse. It's just as easy for a little old lady to blow your head off as it is for you to kill her.
You big mouths haven't done an ounce of research.
fuzzywzhe 2 years ago 2
Great videos!
What I believe will happen is that the Comex price will separate: it will be one price for the paper and another different price for the real stuff.
And Comex contracts will be paid in huge amounts of worthless dollars.
AmenMaranhata 2 years ago
Yes it a big setup. There is not as much silver and gold available as they sell on paper.
For example a bank offers an ETF and then in the news is published that the bank has big problems and people want the delivery you can be sure that you dont get the silver or gold you signed for.
The same bank scam: Make money out of nothing and promises.
BTW u make good vids :-)
qminusis 3 years ago
All good info - except i dont think the comex will go down when the default occurs... my reasoning is that the paper price for comex nickel didnt fall, it went through the roof when nickel was defaulted on a few years ago. Look at the past to predict the future.
The comex wont be shut down either... it wasnt with nickel.
my thoughts only... but love ur vids.. keep it em comin!
stellaconcepts 3 years ago 2
I've already got a fair bit of gold, but I"ve been reading up on silver and a lot of experts are saying it's even more undervalued than gold, so I'm going to purchase around 1000 oz if I can't get my hands on it. The only problem is storage. I'll figure something out.
trevormac77 3 years ago
to trevormac77: I know 3 mos have gone by since your posting here.......did you ever buy large quantities of silver? Actually storing a 1000 ozs of silver does not take up much space really
inkey2 2 years ago
Damn...now they say a default may happen next december...
wrinkles1931 3 years ago
shout your mouth man
sivasboy2006 3 years ago
This has been flagged as spam show
Good info. Thanks!
hotrodguitar1 3 years ago
Do you think they will attempt to inflate our way out of debt? China would be rather purturbed if they did. The Chinese are not exactly someone you want pissed off at you.
jailarson 3 years ago
Ask yourself this as prices fall do you think that the government and banks want to pay back debt when it's harder to obtain dollars via stuff people sell and employment?
Then consider how many time King Paulson went to China (FYI more than any cabinet member in the history of America) and think about what they talked about.
We can only speculate but... "Exit Strategy?"
Wish I knew what the plan was.
davincij15 3 years ago
Good point. I noticed an article not too long ago where one of China's main state owned banks has been given permission to set up operations within the US. A precursor to buying up insolvent US banks and US consumer debt perhaps?
jailarson 3 years ago
US Consumer Debt is toxic paper. Credit card backed securities stop selling on the market back in Early November right when AMEX became a bank in one day.
davincij15 3 years ago
Thanks for answering my questions. Here is one more and I will leave you alone. What if they (the Chinese) buy up failing banks and then start calling in mortgages and gobbling up real estate and whatnot. Tangible goods and property are much better than a line in some ledger.
jailarson 3 years ago
That carries political risk. Meaning the government may stop them from doing that. Besides the banks are broke and with defaults not just in homes but in commercial still to come anyone who would buy a banks would take on all those potential liabilities.
Banks are toxic, if anything they will buy producing assets.
davincij15 3 years ago
test
dontblamethemessenge 3 years ago
where do you see the metals going six months to a year?
mvandenberge 3 years ago
With absolute confidence $2000 for gold and minimum $100 for silver.
davincij15 3 years ago
i need help, Let's say i bought a bunch of silver and gold last week. A year from now gold will be at a high cost and the dollar becomes worthless and lets say i want to buy some groceries.
What will i do with the gold and silver i have when i want to use it? Do i give a gram of gold as payment, do i go to the bank and exchange it for money, or find a place to sell it for cash?
univearth2 3 years ago
1. If you live in Canada go to any bank.
2. Go to any coin shop or jeweler.
3. Sell to dealers on line.
4. Negotiate with the store owner if the dollar is fading fast he will jump at taking a stable currency.
davincij15 3 years ago
Thanks.
univearth2 3 years ago
Thanks for the vid. Guys, he's right about our money system. Check out my vids on Modern Money Mechanics and it explains this.
MelodicNightmare 3 years ago
I don't agree that prices will fall if COMEX default, it will burst upward because of the demand for the physical product. For the prices of gold and silver, we are talking about the SPOT market not the futures market, thus even though no one plays in the futures market, spot market prices should not be affected.
sktamball 3 years ago
I see paper prices going down with physical going up. It's already started 2 weeks ago when gold went into backwardation where all future contracts are cheaper than present or short term contracts. This is not normal for gold.
If you understand the price of money you will understand how this is already a two tier pricing for gold. A paper price that is cheaper than a physical price.
davincij15 3 years ago
i thought that the gold certificates equal the physical gold. i dont see how i can lose by holding the certificates.
mreisma 3 years ago
A gold certificate is a derivative that you have probably heard about. The definition of derivatives is it's value is based on the value of something else.
But when you buy it the banks do not buy gold for you the just take your money and owe the price of gold when you cash it in.
So not only are you not holding gold you are helping the banks keep gold down.
davincij15 3 years ago
im talking about a certificate from the perth mint.
mreisma 3 years ago
I agree with Jason Hommel and Theodore Butler, if they really have silver and gold there in pooled account provide the serial numbers of the bars.
Other pooled accounts do so.
Sell your certificate get allocated from the Perth or real stuff.
Just keep in mind when the shit hits the fan at the Perth you may have issues. That's why physical is so much better you can insure it yourself and fell it touch it and see real wealth. Nothing beats holding it in your hands.
davincij15 3 years ago
Tops stuff. Thanks for posting.
MakeCakeNotWar 3 years ago
Thank you so much for explaining this. You have answered many of my questions in this video.
wonderwendy1968 3 years ago
This video is a simplified explanation of the COMEX in reality it's much more complex beast. But it boils down to what I have said.
On anther topic let me simplify the US Dollar.
Every US dollar is created when a person, company, or government borrows money from a bank.
(That includes your credit cards)
A very frighting simplification if you understand the power of compounding.
davincij15 3 years ago
I cashed out my 401k and bought 90% silver before the crash. I bought at like 54:1 16.42/oz, hoping after the crash monetized gold makes silver goto 15:1. Unless the US comes off of some SUPER high tech and only allows it to be sold in the dollar, the dollar is over.
grovernors 3 years ago
Yes the next bubble must be bigger than housing, but the failure of so many banks is the sign that the dollar has ended. One of the many reasons banks conspired to create a fiat system is to save them via the printing press hen they make mistakes and dept based system is designed to end with waves of defaults when the dollar can no longer exponentially expand.
davincij15 3 years ago
if the price of gold and silver at the perth mint is based on the comex, i will be able to buy the physical stuff from them cheaply
nicdarvas 3 years ago
If it defaults and the contract holders get cash, yes it will get cheep but, after a month they will stop selling it at the COMEX price.
davincij15 3 years ago
Perth Mint has now suspended all gold and silver sales. It's on!
17Spartacus76 3 years ago
Perth mint is only suspending the delivery of NEW GOLD coins and bars that it refines. However, there is a lot of allocated gold at the perth mint which trades hands.
rosshina 3 years ago
I don't know all the details, the story was published in 'The Australian'. They've stopped taking orders.
theaustralian . news . com . au/ business /story/ 0,28124,24687337-643,00 . html
This is interesting too:
silverstockreport . com / 2008 / perth7 . html
17Spartacus76 3 years ago
a couple of days ago they had a 14 week waiting time. i was at a distributors in sydeny australia, picking up 70kg of silver bars. i had to use a furniture trolley.
alpertdon 3 years ago
i heard they supressed the real value of silver. so they scewed you if you hold it, do not know when it will break out... maybe never but it should be in the high 20's. Yeah the contracts are a big joke and it shouldnt be legal, so much of what goes on on wall st is a scam.... and obama needs to fix ,make it fair for c sake
Range4Harry 3 years ago
1. The price will go down lower on silver.
2. The price suppression will not last.
3. Obama will jack shit all except print America into oblivion of hyperinflation
One can hope that he will see the light, but I will not bank on it.
"So man can be what he was born to be, free and independent." - JFK
The last prez to see the light.
davincij15 3 years ago
> and obama needs to fix ,make it fair for c
> sake
Obama voted for the Patriot Act, the Military Commissions Act, and voted for the 840 billion dollar "bailout".
If you think he's going to change ANYTHING, you didn't bother to do any basic research before you voted, but only a few did - and they support Ron Paul and Mike Gravel.
And if you think I support McCain, McCain voted the SAME WAY on all those bills.
BTW - John Edwards WROTE the Patriot Act.
fuzzywzhe 3 years ago 2
It says on GoldMoney's website that the gold or silver you buy there isn't a "paper gold" product. So it isn't dependent upon the ETF's, certificate issuer's or pool account operator's ability to obtain and redeem metal for you when you want to sell it.
gtg309v 3 years ago
Yes I am starting to agree that goldmoney is legit. The only problem is confiscation or management change.
davincij15 3 years ago
at 6:30. good point. because they depress silver for so long many mine companies and individual investors are pissed that they wanted to crash comex. same goes for gold.
KhmerD0g 3 years ago
Your information is very accurate.
He101A 3 years ago 2
There are A lot of great Gold articles @ 321 Gold. Great web site.
eatsomedog 3 years ago
Thank you so much for the explanation...
mouljran7 3 years ago 2
genius
formulaprimer 3 years ago 2
Excellent explanation to something that is counter intuitive on the surface.
jfooj 3 years ago
GREAT info!
you got a new sub.
odin422 3 years ago
nice. subbed.
loved the stats you posted here:
1 15.3% March 15, 1933
2 14.9% October 6, 1931
3 12.3% October 30, 1929
4 11.1% October 13, 2008
5 10.9% October 28, 2008
dows best days ever.
holy crap bro.
those numbers say a lot.
fckuvrymch 3 years ago
thanks for the video davinci
pixaloop 3 years ago
Where can I find information on how much silver and gold are being delivered?
Rabbitcarebears 3 years ago
Good question I will see if I can find out, but what I have read from others it is 1%
davincij15 3 years ago
thanks for the theory it makes sense.
psbyowner 3 years ago
Davinci-
First, (it is pronounced CO -Mex). Secondly, COmex is the exchange of which Gold,Silver and copper futures trade. Not only that , but, if everyone who purchased futures on Comex asked for delivery and all there were short sellers, that would drive prices up because the sellers who sold the "paper" contracts could not deliver the physical commodity.Also, there is no uptick rule in commodities and there still is no uptick rule in stocks.
jball4747 3 years ago
First, who cares how it's pronounced you know what I mean. (Commodities Exchange does not = COM-EX ok it's not important)
Second, I know it trades other commodities.
Thrid, COMEX is a clearing house for the contracts if the party you purchased the contract from cant deliver that's not your problem it's COMEX.
Forth, once COMEX can't deliver they DEFAULT!
Fifthly, with a default the long contract gets cash and must get physical elsewhere rising the price of physical.
Any Questions?
davincij15 3 years ago
BTW you may have me on the uptick rule I should not have mentioned it.
Cheers.
davincij15 3 years ago
As I understand it. The premium for physical silver is is about $5-10 over spot, that is if you can find it or in any quantity. The disconnect between the 'street ' price and Comex will continue to grow. When they begin to demand delivery, the Comex price will suddenly correct up. The 'street' price will not follow the Comex down and may remain at $15-20 and rise once contract buyers decide the real thing is more valuable.
InTheSticks1881 3 years ago
Wrong analysis, the comex will not correct up, it will become zero: it does not guaranty any real value.
estodril 3 years ago
The COMEX has the potential to go to zero just like the US dollar. The problem is will it go to zero.
davincij15 3 years ago
A commodity market going down to zero? Are you sure about that?
TheCZMan 3 years ago
It has the potential but the likely hood is extremely low. Same with the US dollar, because the system would switch before it go to zero.
With that said if you had a COMEX contract in hand or a dollar in hand after the switch and they prevented the switch over after a specific date then it has reached zero.
But that is a technicality as no one would hold on to a useless paper if given an opportunity to exchange it for value.
davincij15 3 years ago
thanks for the vid; explains alot
psbyowner 3 years ago
ha i knew it. i knew these prices were B.S..
precious metals derivatives..
psbyowner 3 years ago
no wonder its taking so long for metals physical deliveries...
psbyowner 3 years ago
So you erase my comments because I made too many comments.
Nice.
ForTheRecord101 3 years ago
Yes and I will continue until you slow down.
davincij15 3 years ago
As a former Banker. Fortherecord101 is completely clueless. Keep up the truth davincij15.
mustangjake2073 3 years ago
Thanks
davincij15 3 years ago
Actually...I was really enjoying this debate that the both of you were having...I hope it doesn't end here.
a lot of substance here that is somewhat rare to find on the tube...kudos to both of you!!
mediasmoker 3 years ago
You wrote "I care not what puppet is placed on the throne of England to rule the Empire, ...
The man that controls Britain's money
supply controls the British Empire.
And I control the money supply." - Baron Nathan Mayer Rothschild
That is exactly right, and the banks don't control the money supply, the Federal Reserve controls the money supply. There is a lot of difference between the banks and the central banks.
You have all the quotes memorized but you don't understand them.
ForTheRecord101 3 years ago
Yep it's not like the Federal Reserve is owned by member banks.
Oh! WAIT!
My bad it is.
Anyhow enough lets agree to disagree your data points are all wrong and you are all over the place. Its difficult to go point for point with you. There are too many comments that making it impossible to argue a point. Because there are too many of them.
davincij15 3 years ago
Deflation can't be controlled. Deflation is like cancer. You think well, just make credit and money easier and that will stop prices from crashing. That's what they are trying to do. First, they slashed interest rates. nothing happened, prices kept crashing. Banks started failing. Every time a bank failed money dissappeared in thin air. They started bailing out banks, but that didn't work. Banks stopped lending making more money dissappear. Each day more billions of $ are dissappearing.
ForTheRecord101 3 years ago
Now all of a sudden, the very tool that they use to shackle us, the dollar, went under attack. The dollar started declining against most currencies and all commodities. The powerful were losing control rapidly. something had to be done, quickly. So, they killed inflation. The problem is that once you kill inflation, you get deflation. inflation can be controlled by restricting money supply, by raising interest rates. But, deflation can not be controlled. deflation is like cancer.
ForTheRecord101 3 years ago
Ok enough start responding to my statements please.
davincij15 3 years ago
Have I answered all of your questions?
ForTheRecord101 3 years ago
There is one statement you did not respond to. Please respond to that one first or I will discontinue my conversation with you.
It was regarding: "Money is not destroyed unless it is used to pay bank debt"
davincij15 3 years ago
You wrote: "Money is not destroyed unless it is used to pay bank debt"
This is absolutely FALSE. Money is credit.
If I sell you a house for 100,000 and give you owner financing, I have created $100,000. If you don't pay and I take the house back, then that 100,000 is gone, destroyed. Same with the banks. They create money by making loans and when loans are written off, the money is destroyed.
ForTheRecord101 3 years ago 2
At first, I didn't see you were making statements to which I could respond because I was writing.
But, I have now responded to your comments.
PLEASE, if I have answered them to your satisfaction, let me know.
If you see a flaw in my answers to your statements, please let me know what the flaw is and I will try again. Hopefully we can work through this difference of opinion.
I'm trying to help you and all people. And, I presume you are too. This is crucial business!!!!!!!!!!!!!!!
ForTheRecord101 3 years ago
We fought bloody revolutions for freedom only to vote it away by electing actors and the Corporate Republicans.
Instead of feudal lords who shackled us when we didn't do as they told us, they take our dollars. It's a much friendlier type of slavery. It's an intangible form of slavery. It's also more effective because people think they are free and they work real hard chasing a dream. But, they make the dream harder and harder to achieve.
Slavery is more and more real but less evident.
ForTheRecord101 3 years ago
And, if you think those in power are going to lose power, well, then you are living in fantasy land. They use dollars to shackle us.
Since the beginning of civilization there has been slavery. They once used shackles. But people started demanding freedom. People bought freedom with their blood. but, they did get it through bloody revolutions. Then the powerful learned a new way to enslave us. MONEY They used to give slaves and peasants a home, now we even have to work for our house.
ForTheRecord101 3 years ago
When everyone gets scared and panics, they want their money. When every one holds cash, there is no income because cash earns nothing.
When there is no income, prices go down.
This is a no brainer. No matter what logic you apply to this the price will crasn, gold and silver will get cheap and dollars will be more and more valuable.
And, if you think those in power are going to lose power, well, then you are living in fantasy land. They use dollars to shackle us.
ForTheRecord101 3 years ago
Every great empire ended with debasement of their currency, why because it transfers wealth from the people who produce and save to those that consume and borrow.
Making rich very rich and the poor very poor.
This scam has been done over and over again in our human history.
Good luck to you sir.
davincij15 3 years ago
Davincij15 apparently believes our empire is over. No, what is over is your freedom.
ForTheRecord101 3 years ago
No the empire is not gone, just changed to sub par once it all plays out over the next 4 years.
davincij15 3 years ago
INFLATION is wonderful. We've all enjoyed this thing called inflation. And, if inflation really picked up now and the dollar collapses, that would be heavenly!
If I owe $100,000 on my house and the dollar becomes WORTHLESS, then I owe nothing at all.
If Dollar = Zero, 100,000 X zero = zero
But, if the dollar gets scarce, if the dollar becomes more valuable, If everything is getting cheap, which is what is happening, I'm screwed because I owe $100,000and there is no way to earn money.
ForTheRecord101 3 years ago
Bank leverage is 30:1 or more. This would make them rich as they own all bad assets because they can't sell it now. If dollar goes to zero they keep all the assets and it does not matter what they sell if for in the new currency. It did not cost them anything to get it in the first place. :)
If the dollar continues to exist banks are responsible for the unpaid debt in dollars. Since the assets are not worth in dollars what people borrowed. Banks owe that money not the borrower.
davincij15 3 years ago
Dear davinciji15, First of all, the banks are not the power elite so it matters little if they all fail. In fact, by forcing the banks to sell PREFERRED stock, they are taking over the banking system. Second, when a bank fails, you still owe your mortgage. If you don't pay your mortage, you lose your home and now you rent.
ForTheRecord101 3 years ago
Banks have the power to create money out of nothing when it is loaned to people how that does not make them powerful?
I can provide so many examples how they run the show but a quote from the most powerful family says it all..
"I care not what puppet is placed on
the throne of England to rule the Empire, ...
The man that controls Britain's money
supply controls the British Empire.
And I control the money supply." - Baron Nathan Mayer Rothschild
davincij15 3 years ago
I see some body in this world no about the sinister Rothschild family.
dewege101 3 years ago
Thanks ForTheRecord101 is stuck in the matrix. I do not believe I can get him out. Besides he probably does not want to come out.
davincij15 3 years ago
99 percent of people on youtube think we have inflation, just like you.
Being in the matrix is not being able to see that the majority is wrong.
I see that we don't have inflation, it is you who is in the matrix.
ForTheRecord101 3 years ago
you are off topic with what I have to do when I fail to pay the mortgage or disuse what happens when a bank fails. My point was directed at the fact that the bank owns the asset. And must turn it into cash to pay the debt or come up with the cash some how (under the current rules).
Focus man focus.
davincij15 3 years ago
I told you, when the bank fails, the mortgages are moved to another bank. The failing bank is gone. If the failed bank had a billion dollars in notes receivable and all its customers defaulted, then the bank lost all the money it created. But, another institution will own the properties.
ForTheRecord101 3 years ago
One more thing.
When investors get scammed as this video predicts, that is money that is now gone.
Investors losing money on stocks, mortgages, commodity contracts, real estate, just name what you want, every where you look people are losing money.
The government is trying to offset this loss in value but the government is obviously not keeping up because the values just keep dropping like dominos, just as I predicted they would. That's DEFLATION, NOT INFLATION.
ForTheRecord101 3 years ago
I have you in a corner ForTheRecord: Money is not destroyed unless it is used to pay bank debt. it is only transferred to other people. For example if I should short the Gold and silver it was transferred to me. The difference between a high price and a low price is the transferred amount the same goes in the opposite direction.
For example when the price spikes for gold and you want to buy I am getting the difference from what I paid from YOU. :)
davincij15 3 years ago
Also, if we have run away inflation, that will be wonderful for all who are in debt because they will pay off their debt with easily obtained dollars.
It has to be one or the other:
1) INFLATION will cause gold to go up and it will make it a snap to pay off our loans.
2) DEFLATION will cause gold to down and it debt will strangle us. Either the dollar becomes valueless and we all pay off our debt in a snap, or, gold will get cheaper.
Which is it??? It can't be both.
ForTheRecord101 3 years ago
Not if there is no jobs that can keep up with inflation. That is what happened in the 70s people had jobs and salaries kept up with inflation.
davincij15 3 years ago
I worked in the 70's. It was called "stagflation". Inflation was about 12 percent and the economy was slow. Nixon tried to stop inflation with price controls. But, this has nothing to do with the conversation. We had neither deflation nor runaway inflation.
ForTheRecord101 3 years ago
The video says at least three times that commodity prices, things like silver and gold, will fall.
That is exactly in line with my prediction that the DEFLATION WE ARE HAVING will continue for months or even years.
So, why in the heck would you want to take posession of silver???
Why would you want to buy silver when it will get cheaper as people have less money and it is harder to make money???
ForTheRecord101 3 years ago
Deflation is the reduction of money and credit.
- 700 billion bailout
- 150 billion TAF
- 437.5 Billion a day fed window borrowing
- 500+ billion for Money markets
- 5 other borrowing facilities not mentioned
That is not a reduction of money and credit.
The current price action is a Tsunami type event where there is little or no water so that means the ocean is drying up? No, a big wave is coming.
Manipulation, margin calls, and cash raising is causing the current prices action.
It will end
davincij15 3 years ago
True, the bailout measures in themselves are "not a reduction of money and credit." The list you made are ATTEMPTS to REFLATE the DEFLATION by trying to make credit to stop dissappearing. But, as you can see, they aren't working. As I said, DEFLATION CAN NOT BE STOPPED.
Money is credit and even giving massive life support to the dying inflation can not revive INFLATION. Deflation continues on despite all their attempts to put air back into the popped credit bubble.
ForTheRecord101 3 years ago
last half of this video was good.
clearcutting 3 years ago
glad to see cats up on their financial game
agray10 3 years ago
Thanks brother now get out there and buy some silver.
davincij15 3 years ago
most cities actually have licensed dealers that you can acquire precious metals. Every major city has several and many pawn shops as well. You always want to have physical gold. This is an EXCELLENT video...many people are on dangerous ground with this.
bigjayboogie 3 years ago
Another comment:
I recently placed an order for silver at the NWT mint. They processed my check and promised delivery by February 2009. They also said that if they fail to meet the order, they would refund my money in full.
So, I am thinking that they don't actually have the silver in their possession. It's possible that they're ordering it from miners or even the COMEX.
If silver futures go into default, I may be stuck with cash and a lost opportunity cost.
Any thoughts on this scenario?
conquesimo 3 years ago
yep you will get your money back if they default. In the future you should not buy silver from companies that hold your money and use it as a float. If you can request your money back and buy from some one on Ebay as long as the delivery is under 1 week, 2 weeks at the very most. Thus any price < $20 is a bargain. But shop it out %50 over spot is the absolute best price but do not expect that on low volumes on EBay.
davincij15 3 years ago
Thanks for the video. I now finally understand what people mean by "futures" and "futures contracts".
It sounds like COMEX prices for precious metals will never officially explode. The physical market on the street and on eBay will explode though. Unfortunately, I think prospective buyers of precious metals will be discouraged from making physical purchases since it will seem as though the premiums are unreasonably detached from the "real" price. It's a mind-f*ck, really.
Buy food instead?
conquesimo 3 years ago
Unless you have Hundreds of thousands yes. Food first. Silver next.
davincij15 3 years ago
"It is CRITICALLY important that you research DEFLATION and understand that inflation has been replaced with DEFLATION.
In the worst case of censorship I've seen on YouTube, VisionVictory deleted more than 20 comments I posted on his video "The End Game"
If you want to know more about why you should not buy gold, if you want to know why we are having DEFLATION instead of inflation, read the comments on Bright Anarchist's video called "Don't Buy Gold+
Gold prices already lost 20%
ForTheRecord101 3 years ago
People please do not mark contradictory views as spam.
It is important we observe both sides of the argument and decide based on information provided.
davincij15 3 years ago
Thanks for explaining in laymen's terms. I finally understand this concept and understand what's going on. Paulson's crooks are 1) keeping commodity prices down so they can settle these contracts 2) keeping commodities down to hoist the dollar value where they can convert the stolen US money into real assets. These guys are crooks and you can rest assured that your gold and silver will either be illegal or there will be no method of paying with it...e.g..electronic sys 4 buying goods
ATAINC23 3 years ago
My friend call Blanchard's and they had NO GOLD
zappos49 3 years ago
Excellent info. Answer this question for me: Are you saying at the time of the comex default, that the comex price for gold (or silver) will be proportionately lower (in comparison with the physical market) than it is at present?
Thanks
BlackBuddhist 3 years ago
Or, can we expect the spot price to eventually catch-up with the physical market?
BlackBuddhist 3 years ago
Yes the spot price on the COMEX will be lower when it defaults. The US Dollar is the world reserve currency commodities are purchased sold and purchased in dollars.
Now the world leaders are talk about a new world reserve currency. If that happens I think we can predict what will happen to commodities exchanges when a new reserve currency is developed.
Google "ECB's Nowotny Sees Global Tri Polar Currency System Evolving" (if you read between the lines it does not include the US)
davincij15 3 years ago
This guy is right, Castro did same thing with gold and silver in Cuba.
The black market is the only one that will pay the real value for silver and gold if that happens.
ficote72 3 years ago
"Gold in the hands of the public is an enemy of the state." - Adolf Hitler
Got gold?
davincij15 3 years ago
Great f*ing video man! Very educational and I wish someone had explained this before! Thank you!
dabruin2 3 years ago
I was with you until the end. Clearly there seems to be a growing discrepancy between the paper and physical market. As seen in the links you provided, this will ultimately lead to defaults. Jurg Keiner says this will cause the gold price to double overnight. But how will this make the Goldmoney price go down? They take delivery and hold physical gold.
ChristopherMarlowe 3 years ago
Great explanation man - makes a lot more sense now. I was lucky enough to run across Jason Hommel's videos over a year ago so I knew always to take delivery - even if I wasn't sure how it all worked.
artdeco101010 3 years ago
This is a video of substance. Thanks!
TTBurner 3 years ago
great vid....dvj...
bjmccullough 3 years ago
Great vid - thanks for explaining this. I knew something was up, but I couldn't figure out why gold & silver prices were being "held down".
VincentVonGoat 3 years ago
Thanks, the reason all commodities not just gold (check out oil) must be held down by the banks is simple. Dollars are only good based on what you can buy with them. If the prices of things go up that means dollar value goes down.
davincij15 3 years ago
The banks are selling gold they do AND don't have as are many other wealthy entities in the futures market (shorting it) to drive the prices down and will ultimately hold more as they scare people out of the market and pay the contracts off with PAULSON's PRESTO PRINT PHONEY FIAT DOLLARS. HOLD GOLD and demand delivery if you have a contract.
billvancouver72 3 years ago
Preach on Brother!
davincij15 3 years ago
Good stuff, but you are wrong about goldmoney, you can take physical delivery from them, but it will be 1000 ounce bars for silver and 400 ounce bars for gold
wildpett 3 years ago
Thanks for the clarification however keep in mind they can with hold the gold and you can sue them but not for the gold but the cash price. Now I have not read the contract however it may be at the COMEX spot price.
No law requires dispute settlements to be paid in goods only. Sure a judge can order it but that does not mean it's legal for the judge to do so. If was legal gold would be money :)
davincij15 3 years ago
Wow this is a great post thanks! It all makes more sense now.
myeyepie 3 years ago
Could they be doing this manipulate silver and gold prices even lower, so they can buy up all the physical silver and gold? After all if silver goes to $5/oz and gold to $500, people will look to dump the physical stuff as well. Sounds like banker tricks to me...
How long before the silver default do you think?
AngriestAmerican 3 years ago
I do not see gold and silver that low.
Silver in small sizes has disappeared world wide and gold is gone from most dealers. Large wholesale bars are still available but once the London and Zurich stop selling gold at the "official" price it will not be long after that. This happened in 1968, there was 2 prices for gold.
If I had to guess a time frame I would say before the end of the year, possibly we are just weeks away.
davincij15 3 years ago
Wow! Your comment is one of the most intelligent things anyone has ever said on youtube. It makes a lot of sense. It didn't make sense to me that gold was falling, now I see the light....
thepassionateteacher 3 years ago
So do you reccomend purchasing silver/gold bullion?
ObamaBiladen 3 years ago
Yes no ETF no Certificate program no futures contract and no goldmoney.
IF you do ask this question and get the documented answer what happens if COMEX defaults or shuts down? What if different groups are selling gold at different prices in that event?
Keep in mind that Perth Mint may hold allocated gold but they can default as well and pay you the cash instead.
davincij15 3 years ago
Very good stuff. Thanks!
btbking 3 years ago
Nice video davincij!! Important info for us silver bears.
prepare2008 3 years ago
good point - thanks !
kalatuppi 3 years ago