I just came across this old video of yours - very nice etc. You mention at the end, that whoever is holding your gold during a hyperinflation, that they may be tempted to just keep your gold and you'd have to sue them etc etc.
But surely (and of course it's none of my business), you are still using a "safety" deposit box in a bank for your own gold/silver.
Maybe you don't really believe they'd steal it?
Feel free to ignore me here - none of my business, obviously.
its called a bank holiday, look its been leaked to expect one in september. silver gold ammo guns and food and water and water filters collect rain water and use a filter perferibly a berkey and dont go to the fema camps remember katrina? that was their bata test when and how people will react without food and water and no skills on how to survive. and when the food and water run out in the camps expect death to follow quickly.
that drop off is the banks selling silver and gold to monitize their losses to look healthier to people who are all clearing out there bank accounts. they need money in large amounts so they are selling off it to gold and silver brokers so the banks can have cash! so you see the increase of suply a dip and the demand buying it up completly makes the price go back to normal. basicaly a ugly fact and side effect of fractional reserve banking. people are calling in their loans and the banks defalt
If your interested in getting more silver for less money you can't go wrong with silver snowball, I've been doing it for just 3 months and this month I received 6 silver eagle coins for just $42.50 US, that includes shipping all the way from the states to me in New Zealand.
Alreadly had 2 more sign ups this month so I'll be getting 7 silver ealges next month for the same price : )
If anyone's interested click on my username to see my vid's on how you can get started.
If there is a default, all these etfs that track gold and silver, like GLD, and SLV, will be worthless. They are the same as fiat currency. They are electronic blips and if the commodity isnt available its the same as an insurance policy that screws you.
You got it Pontiac! Every single hyperinflation caused gold and silver to go to zero, meaning no one would trade gold and silver officially for the junk money.
Yes, but nobody cared about the currency either. I can tell you how it is to buy things with cigarette packs or whiskey bottles if you want to.
The difference is that when the market comes back to normal, silver and gold will be a lot of times more expensive, while the paper money will be devalued. And by the way, people would take your gold and silver if you want to give it away.
Central banks around the world have 75% of the worlds deliverable gold in their vaults.
I guess the bankers are crazy for holding that and stupid for not holding paper money, or other commodities that have everyday use.
"Gold is money and nothing else!" JP Morgan
Take some time to read about gold and it's history if you truly want to comprehend the above statement, or remain ignorant it's your choice. There is a lot of information for something so simple as a shiny metal that does not rust.
actually, i supported your idea, maybe i just worded it wrong and you misunderstood. i was telling you that nobody would trade gold/silver for money because nobody would want the money for goods. you can trade it for goods if you want. the thing behind gold going to zero doesn't change the relative prices of goods to gold, but it shows that nobody wants the currency and wants to keep the metals.
just look at germany when the price of bread went from like a million to 500 million in a month. if you would have bought silver coins before, you could have bought bread with it, but nobody would have traded the coins for money because sellers rejected the currency too.
I understand your point but there will be people that need the currency to pay debts. Thus they will sell goods in currency and will gladly accept gold and silver for those goods.
Then there are those that can borrow currency to buy the gold and silver because they know it will go up fast and cover the debt.
"Hyperinflation causing gold and silver to go to zero because you couldn't trade it for junk money?!?" Forget trading for paper...it would be called the underground economy and direct trade for the metal. Canada has quite a large underground economy due to outrageous taxation and tax evasion is a sport there. Look for non-cooperation to accelerate as the economy and taxation move in opposite directions with the loon currently in the White House.
There is not enough silver above ground for that. Man had 12 billion oz as of 1913 and now we have less than 1 billion oz because of industrial use and deficit mining.
Is it possible to get a historical chart on the percentages in the video title? It may be enlightening to see if they've been at these levels before, what was happening at the time and what followed.
Also, silver is an industrial metal like platinum and copper not a currency metal like gold. Given this, can you elaborate on why you like silver better than gold?
I really enjoy your videos and will subscribe. Thank you.
I'm glad you mentioned that you were drunk. :-) If you Google 'silver is an industrial metal' you will find many discussions about it. Even if you don't agree, my main question is why prefer silver over gold? Not trying to argue, just curious and learning.
I also think historical charts of the percentages (46.6%, 44.5%) might be enlightening. Who knows, these numbers may not be out of the ordinary for un-ordinary times.
Thank you for the videos. I enjoy watching and learning from them.
Even Drunk I provided a true statement. Silver and money are the same word in 7 languages. You need to dig deep to find the truth.
The MSM says we have deflation(Reduction of money supply), is that true?
The amount of silver and gold requested for delivery is not normal. That was 7% of all contracts on the COMEX, topically only 1% of all contract request delivery.
True there have been times where 2 or 3% wiped out 50% of the Registered gold because the COMEX supply was low.
some traders trade 'gaps' because say the Dow gaps up 30 points thats a big gap and the odds are high that it'll come back down to cover the gap usually in minutes or hours the larger the gap the shorter the time it takes to cover.But sometimes the gaps aren't covered for days or months or sometimes years.
if anyones interested i saw a huge 50-60 pip gap at 155 on eur/usd in the summer that wasn't covered if you backtest the charts its been covered by the chart software but i know it wasn't.
The dip in price is just 'gapping' its nothing really, just means the very first trade that went through at the open was $5.20. They are usually small contracts.The buyer and seller agreed $5.20 for what ever reason.
It happens in all markets but its happening alot more at the minute because of the volatilty.
Interesting thing about 'Gaps' is they're always covered by that i mean the market always trade back past the gap price to 'cover' the gap in the charts.
but I actually worry about gold as well...because during the Great Depression they confiscated gold, and now we're going to enter the Greatest Depression.
yea you are correct - 'short contracts' are a bit confusing to the newbie. but from what i gather they are selling tonnes of silver that they don't even have to keep the price down. the question begging is where do they plan to get the silver from later when they are supposed to deliver to the guys who bought the gold they don't have. maybe they dont even deliver because they have insiders doing the buying and so they dont have to deliver.
No they manipulating the price to make the dollars look good. They will simply default on the silver debt and whey you default and delivery of an Item you must pay the cash price.
Sort of like if you buy something over the internet and it's not delivered then you want your dollars back.
My personal opinion of a person who does not have millions, I would say NO. But your situation may be different.
Having millions is just one difference as an example. Lets just say you live in the City and you have a lot of break-ins or you are petrified about confiscation, or you plan to escape the USA. These are all examples of how you may differ from my situation.
I really appreciate you comments and views. Quick question, what is happening in your opinion with gold and silver calls in the case you described as comex default ?thanks and merry christmas !
Actually; I am not interested in physical delivery, (although I could maybe as well if times turn really bad) I took the example of a swiss bank which issues a gold warrant/right to buy at 1200 USD per ounce with an expiration 6/09. It is traded at the SWX Swiss Market. Thanks for sharing your views. Greetings goelcaro
The warrant/right to buy gold is as good as a promise to pay gold. If I can't get it and I default I can give you the current cash price, you can't sue me for more.
You say great, however what happens on 6/09 the market price is $500 and the everyone knows the COMEX defaulted and physical is at $2000? You can't sue for $2000 because that is not the "Official price" any more than you selling it for 10% over spot today. ;)
No, they are too young. When they are older yes, my father did and he new everything about the banking system and how it worked. I only learned about it this year and he know all along but never told me. He should have explained why he was buying me silver in the late 70s I would have kept it even after the price dive.
The Silver dip, it happened again, just now, right when globex opened; all the way down to $5.20/oz. If it's not a glitch, how is it technically possible? A huge short followed by a huge long?
I've seen this 'glitches' frequently of late for some reason. Just a guess that it's a manipulative move for shorts to sell or longs to buy low. Gotta be very vigilant to catch these quick dips, unfortunately.
Thanks I have read it and one error the writer makes is that he is assuming that the contract is between the buyer and the seller. It is not. All COMEX contracts are between you and COMEX. That's why it's will be a COMEX default not a banker default.
Also the law does not allow for failure to deliver, means that you must deliver at any price. It means you pay the cash price at the time of failure or judgment.
If someone could sue for gold it would be in a contracts.
The plummets are either 1) lower liquidity on a marker. The liquidity is next to nothing on the pre-market, and the spread goes insane or 2) bad data glitch. Happens from time to time in all the markets.
Thanks for the update. Just picked up some more the other day. The Fed will do anything to keep the price down, yet we CAN hope for some action next year. I expect modest gains. Long term it is definitely a winner.
You are right buddy....anyone stupid enough to sell their gold and silver for "spot" is making a big mistake. Paper silver and gold certificates are going to collapse and they are not as valuable as the real (physical) stuff. F the Fed...thats all i have to say.
I bought most of my silver on ebay. You will find that on a per oz basis the Canadian silver coins are much cheaper than American ones. Refer to coinflation(dot)com to compare prices,and get the proper dates. Typically you can get a circulated grade coin per ounce the same price as a small bar. The plus is--as a legal tender coin it cannot be taken away by government.
The thing once the COMEX collapses pricing silver will be difficult there will be a price but it will be all over the map. Auction sites that guarantee delivery and can be trusted will be the new price setting mechanism.
Backwardation is not normal for a monetary metal. It means that people do not trust they will get it in the future if it's not in contango. This is not a bullish sign for gold on the market if gold disappears like it did in the fall of Rome the futures price goes to ZERO. As who wants to buy a promise that can not be kept?
Impossible? Then how much is a Mortgage back security? ;)
I know it's just an observation I've made from holding dollars for the past 20 years. They are all new now and it's disturbing. I understand the vast majority of the printing is digital but they must be printing lots of real dollars. Otherwise there is no explanation for this phenomenon.
I've noticed that all of my paper dollars are now relatively new being printed in the past 4 years. It used to be that there would be lots of older dollars. I think this is because they are printing so many they have pushed the old ones into such a small percentage. It's messed up.
You know, I've found that a lot of people newly involved in monetary theory are software developers. I'm also a software developer. I've been meaning to respond to your "Gold is money" video but I've been insanely busy with a new project lately... don't hold your breath but I will counter with a video of my own sooner or later.
Anyway, thanks for keeping us all updated on the comex metal reserves.
Well, bless his and his sister's heart and bless you too, D-man. Have a great holiday and we all look forward to more vids and especially February! ;-)
I was on the phone to the Perth mint the other day, chasing silver. The woman i talked to sounded pissed that i dare ask if there is any physical silver to buy... Long story short, they might have some in January... Or Feb. Maybe.
It was funny, she was supposed to transfer my call to her boss but connected me to another customer in China. Then when i called back (mere minutes) her and boss had gone to lunch.
I also have no problem finding gold and silver where I live. You can walk down to the local coin shop downtown and pick up American Gold Eagles for a $75 premium. When I looked a couple weeks ago, they had about twenty of them. And they also had a box of silver bullion for a $2.50 premium.
And I'm purposely not telling you where I live, but it's a major city in the USA, anyway :-)
Silver is like finding the last popular toy before Christmas. Most will not find it but some places around the world will have plenty. The reasons are localized desire or means. I should do a collection of businesses that have silver and provide it for Jason Hommel to broad cast to his subscriber base. That would wipe out the inventory real quick.
I hear this a lot. I live in Perth and for years have been able to walk into the mint store and buy anything from fractional up to 50 oz gold (love to be able to afford that ;) to 100 oz silver with zero hassle.
A friend managed to get hold of their last 100 oz'er weeks ago and they said they had only had the shipment in two days... All gone!!
I'm not interested in putting my money down for silver i *may* get in the future. I want a straight swap- fiat for metal. Perhaps ive just been spoilt.
Happy Holidays to you and your family too! Thank you so much for doing these videos. They're really like a public service. -And I loved the laugh at the end, "What are you going to sue them for, dollars?" LOL!!!
Keep in mind in hyperinflation there is no market for gold and silver, only a black market. I need to do a video on that because most people are not ready for that reality if it where to occur.
that would be a good video I dont think there will be a black market I think the bullon dealers/brokers will be ready for business ebay will be one of the main sources where you will get higher prices for example at the brokers a krugger was 510 gbp and on ebay 770
Keep in mind dealers do not work that way. There whole system of buying and sell revolves around the COMEX that offsets risk of price fluctuations.
When you sell silver or gold to them they sell a COMEX contract and if no one buys the gold or silver they are not stuck with it. It is shipped to the COMEX.
If there is no exchange the system breaks down and dealers can't operate because they are taking on the risk that the price may fall.
zimbabwe just printed 500 million note. that's right, on a single note. that worth about $65 U.S. dollar. it's not even close to the $100 U.S. dollar bill. so sad.
that is a lot of digit zero to print and could confuse people who couldn't count. i bet they just use the word "million".
damn, all zimbabwe citizens are trillionair easily.
Once the hyperinflation kicks into gear silver and gold will go astronomical. People will be desperate for a safe haven for their wealth and as the dollar collapses. Gold and silver will indeed become very very popular ..and due to greater demand..the price will skyrocket. This is a great video channel..I agree with davinci 100 percent.
Adorable boy... I hope the situation allows me to be a father one day, as well...
I appreciate all of your videos. I am just a young student, but you helped convince me months ago to start putting any money I can into silver. I've gotten my hands on about 100 ounces, 50% junk and 50% rounds...
I know it is nothing compared to a lot of you bulls, but thank you. I've been trying to convince my families and friends and I even sent them rounds for Christmas, but we'll see if they listened.
The value of Silver will eventually get above gold over the next 5 to 7 years. If we get Hyperinflation it will be priceless on the market and you will have to sell it on the black market for paper currency.
Just from here on out as long as there is a paper currency do not save your wealth in it. Save it in physical items of value. Find out what physical item people are undervaluing and buy it.
Predictions are predictable. The law of supply and demand has been suppressed in silver for so long that it may even go to infinity, like in Zimbabwe. You can buy it but there is no market that sets the price it's whatever the black market wants to pay.
What makes me laugh and what I find crazy is that all those people that invested those Billions with bernie madoff and those hedge funds could have checked out a channel like this and saved all thier wealth.....for free.
I thought all the hedge fund guys the analysts and the economists were supposed to be the 'smart money'
I never thought about that! what is the price of gold or silver in zimbabwe? I bet a 1 ounce gold bar or even 1 kilo silver bar would go a long way or even a silver coin.
Yr right them siver bars have almost all gone when the global investment world finally wakes up it going to be crazy
you need to think in terms of physical items with large margins of error, like a one ounce bar of silver can be worth 3-6 gallons of milk and the government will want you to exchange metals at banks, but will not give you a good price. the black market will have the best price.
Thanks for the video. Merry Christmas to you and your family, and a happy and prosperous 2009. (Buy your kids some silver bars... they'll appreciate it when they're ready for college.)
Thanks, however keep in mind paper assets will become more valuable in the future. Not to say that silver and gold will have a lower dollar value it will have the same trade weight value in 18 years as it does today. (Well maybe a little more since it's so rare above ground)
great job! I watch your video and enjoy your comments because you are a real person instead of a talking head telling me what to think...Thanks and continue the great work!
good to see you back.. young son too oh man just loading up silver.. tomorrow send off chk for a loaf bought a comex log.. 1024 oz 78. $ shipping to alaska almost 70 lbs ...just nutz.. bought 100 single oz little bars too figure the little ones for barter stock the big dog as capital storage .. bond bubble is stretching thin when it pops .. metal heads be smiling thanx .. peace out .. take care
Brother you must be way up right now!
deadrepublicantv 9 months ago
Great video, I like to talk about Silver and Gold on my youtube channel as well.
Fitrade 9 months ago
Wow, same time 2 years ago silver was at $9.33, now at $28. Thats 3 times, or 200% rise, not a bad investment, great video !!
giamozz 1 year ago
Hi Davinci
I just came across this old video of yours - very nice etc. You mention at the end, that whoever is holding your gold during a hyperinflation, that they may be tempted to just keep your gold and you'd have to sue them etc etc.
But surely (and of course it's none of my business), you are still using a "safety" deposit box in a bank for your own gold/silver.
Maybe you don't really believe they'd steal it?
Feel free to ignore me here - none of my business, obviously.
Cheers mate
zalida100 1 year ago
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Would you like to know another way to invest in silver? Stop by and check out my website!!
SilverRussell 2 years ago
its called a bank holiday, look its been leaked to expect one in september. silver gold ammo guns and food and water and water filters collect rain water and use a filter perferibly a berkey and dont go to the fema camps remember katrina? that was their bata test when and how people will react without food and water and no skills on how to survive. and when the food and water run out in the camps expect death to follow quickly.
deathmarch5 2 years ago
that drop off is the banks selling silver and gold to monitize their losses to look healthier to people who are all clearing out there bank accounts. they need money in large amounts so they are selling off it to gold and silver brokers so the banks can have cash! so you see the increase of suply a dip and the demand buying it up completly makes the price go back to normal. basicaly a ugly fact and side effect of fractional reserve banking. people are calling in their loans and the banks defalt
deathmarch5 2 years ago
This has been flagged as spam show
If your interested in getting more silver for less money you can't go wrong with silver snowball, I've been doing it for just 3 months and this month I received 6 silver eagle coins for just $42.50 US, that includes shipping all the way from the states to me in New Zealand.
Alreadly had 2 more sign ups this month so I'll be getting 7 silver ealges next month for the same price : )
If anyone's interested click on my username to see my vid's on how you can get started.
Excidium567 2 years ago
If there is a default, all these etfs that track gold and silver, like GLD, and SLV, will be worthless. They are the same as fiat currency. They are electronic blips and if the commodity isnt available its the same as an insurance policy that screws you.
30percentplusreturns 2 years ago
You got it Pontiac! Every single hyperinflation caused gold and silver to go to zero, meaning no one would trade gold and silver officially for the junk money.
davincij15 2 years ago
Yes, but nobody cared about the currency either. I can tell you how it is to buy things with cigarette packs or whiskey bottles if you want to.
The difference is that when the market comes back to normal, silver and gold will be a lot of times more expensive, while the paper money will be devalued. And by the way, people would take your gold and silver if you want to give it away.
delyshBB 2 years ago
Central banks around the world have 75% of the worlds deliverable gold in their vaults.
I guess the bankers are crazy for holding that and stupid for not holding paper money, or other commodities that have everyday use.
"Gold is money and nothing else!" JP Morgan
Take some time to read about gold and it's history if you truly want to comprehend the above statement, or remain ignorant it's your choice. There is a lot of information for something so simple as a shiny metal that does not rust.
davincij15 2 years ago
actually, i supported your idea, maybe i just worded it wrong and you misunderstood. i was telling you that nobody would trade gold/silver for money because nobody would want the money for goods. you can trade it for goods if you want. the thing behind gold going to zero doesn't change the relative prices of goods to gold, but it shows that nobody wants the currency and wants to keep the metals.
delyshBB 2 years ago
just look at germany when the price of bread went from like a million to 500 million in a month. if you would have bought silver coins before, you could have bought bread with it, but nobody would have traded the coins for money because sellers rejected the currency too.
delyshBB 2 years ago
I understand your point but there will be people that need the currency to pay debts. Thus they will sell goods in currency and will gladly accept gold and silver for those goods.
Then there are those that can borrow currency to buy the gold and silver because they know it will go up fast and cover the debt.
davincij15 2 years ago
"Hyperinflation causing gold and silver to go to zero because you couldn't trade it for junk money?!?" Forget trading for paper...it would be called the underground economy and direct trade for the metal. Canada has quite a large underground economy due to outrageous taxation and tax evasion is a sport there. Look for non-cooperation to accelerate as the economy and taxation move in opposite directions with the loon currently in the White House.
freaklemon 2 years ago
No comex default talk from you lately, bro. Any new feelings on that? Thanks.
kensho3 2 years ago
Yes because there is no information on when that can occur. It will occur but it's not possible to predict when we can only guess.
davincij15 2 years ago
cute kid.
Ecothearcy 3 years ago
Why does the comex still show that they have 2.9 million. Do the deliveries still need to happen?
fatjohn1408 3 years ago
Looks like the numbers are off, or CRIMEX is lying. Need to do a vid on this. l8r.
davincij15 3 years ago
Well I suspect that the silver is being diverted to coin the new AmeY0, that's why it's so scarce at the moment...
HOLLNAIER 3 years ago
There is not enough silver above ground for that. Man had 12 billion oz as of 1913 and now we have less than 1 billion oz because of industrial use and deficit mining.
The game is over.
davincij15 3 years ago
I'd find it hard to believe that they would use a commodity-backed standard for the Amero.
KevinPatrickdotInfo 3 years ago
Is it possible to get a historical chart on the percentages in the video title? It may be enlightening to see if they've been at these levels before, what was happening at the time and what followed.
Also, silver is an industrial metal like platinum and copper not a currency metal like gold. Given this, can you elaborate on why you like silver better than gold?
I really enjoy your videos and will subscribe. Thank you.
TradeLoose 3 years ago
The word silver and money are the same in 7 languages.
This is why the banks had to put in extra suppression for silver. They wanted everyone around the world to hold dollars not silver.
I am drunk while writing this but you have much to learn about silver. msg me.
davincij15 3 years ago
I'm glad you mentioned that you were drunk. :-) If you Google 'silver is an industrial metal' you will find many discussions about it. Even if you don't agree, my main question is why prefer silver over gold? Not trying to argue, just curious and learning.
I also think historical charts of the percentages (46.6%, 44.5%) might be enlightening. Who knows, these numbers may not be out of the ordinary for un-ordinary times.
Thank you for the videos. I enjoy watching and learning from them.
TradeLoose 3 years ago
Even Drunk I provided a true statement. Silver and money are the same word in 7 languages. You need to dig deep to find the truth.
The MSM says we have deflation(Reduction of money supply), is that true?
The amount of silver and gold requested for delivery is not normal. That was 7% of all contracts on the COMEX, topically only 1% of all contract request delivery.
True there have been times where 2 or 3% wiped out 50% of the Registered gold because the COMEX supply was low.
davincij15 3 years ago
You've got great videos Davinci! Thanks for the updates on the COMEX.
Your viewers should check out Peter Schiff's videos, articles, and his podcast, all on one page at Peter-Schiff . com.
ggadguy 3 years ago
Thanks I have seen them all and his radio show. Peter Schiff, Jim Rogers, Marc Faber and Ron Paul are people I follow.
davincij15 3 years ago
Again about bullionvault.
Unfortunately i'm not a miljonair. And i indeed think a (multi)miljonair would be a good reason for using bullionvault.
My reason was this: i partially store silver and gold at home and never sell that.
On bullionvault i could wait for a price rise and sell it and get some easy money.
The real physical metal at home is harde to sell and that is good. That means i am urged to stick to it.
dontblamethemessenge 3 years ago
Anyway, thanks for the explanations of the Comex.
I am interested in the present economy, just a few months ago, in september i could not care less. How fast things can go.
dontblamethemessenge 3 years ago
Good idea my circumstance is different as I can walk into my banks here in Canada and get dollars at any time.
davincij15 3 years ago
so you can easily change your gold into dollars when you want that?
In the Netherlands i think that is not possible.
I heard about Canada actually has some gold coins in circulation one can use for payment.
dontblamethemessenge 3 years ago
Yes we can use it as legal tender just like the US can use their gold eagles.
davincij15 3 years ago
I suggest u hold your gold and silver because next year the dollar won't be worth anything.
just type in economic collapse in the youtube search bar
BiohazardDarknoob 3 years ago
good to know. Glad I have gold and silver bullion in my basement. time to get into some major DEBT!! thank you 0% Federal Reserve!!
mrzack888 3 years ago
Wait for the price collapse that may come the banks are not shorting silver to lose money.
davincij15 3 years ago
some traders trade 'gaps' because say the Dow gaps up 30 points thats a big gap and the odds are high that it'll come back down to cover the gap usually in minutes or hours the larger the gap the shorter the time it takes to cover.But sometimes the gaps aren't covered for days or months or sometimes years.
if anyones interested i saw a huge 50-60 pip gap at 155 on eur/usd in the summer that wasn't covered if you backtest the charts its been covered by the chart software but i know it wasn't.
marky1333 3 years ago
The dip in price is just 'gapping' its nothing really, just means the very first trade that went through at the open was $5.20. They are usually small contracts.The buyer and seller agreed $5.20 for what ever reason.
It happens in all markets but its happening alot more at the minute because of the volatilty.
Interesting thing about 'Gaps' is they're always covered by that i mean the market always trade back past the gap price to 'cover' the gap in the charts.
marky1333 3 years ago
Thanks but where can I verify this.
davincij15 3 years ago
Both may collapse or trading will be suspended.
davincij15 3 years ago
I agree with everything you said - even that laugh at the end. Hilarious! Good research!
tajlee1 3 years ago
In the Netherlands i can in fact buy silver coins and silver bars. But i dont tell here where of course, otherwise this source might dry up.
dontblamethemessenge 3 years ago
"sue them for what?....DOLLARS....HAHAHAHAHA!!
CLASSIC!
TheFlex21 3 years ago
I have to wonder if people realize how much of a joke that is.
It's difficult for most to comprehend that their dollars are not worth anything because it's just paper.
davincij15 3 years ago
so true
but I actually worry about gold as well...because during the Great Depression they confiscated gold, and now we're going to enter the Greatest Depression.
I don't know, maybe silver is the best bet.
TheFlex21 3 years ago
I like your laugh at the end. you should be in voice overs.
alpertdon 3 years ago
Thanks
davincij15 3 years ago
SILVER PRICE : i am frustrated that it is still sitting at around $11 per ounce. what it going on with silver price ??!
alpertdon 3 years ago
If 98.7% of all commercial short contracts belong to 2 or 3 banks. Does that explain what is going on?
:)
If not just msg me and I will explain in less than technical terms such as "short contracts".
davincij15 3 years ago
Maybe a video called 'comex manipulation for dummies' would be good.
alpertdon 3 years ago
yea you are correct - 'short contracts' are a bit confusing to the newbie. but from what i gather they are selling tonnes of silver that they don't even have to keep the price down. the question begging is where do they plan to get the silver from later when they are supposed to deliver to the guys who bought the gold they don't have. maybe they dont even deliver because they have insiders doing the buying and so they dont have to deliver.
alpertdon 3 years ago
No they manipulating the price to make the dollars look good. They will simply default on the silver debt and whey you default and delivery of an Item you must pay the cash price.
Sort of like if you buy something over the internet and it's not delivered then you want your dollars back.
However with gold and silver that is money.
davincij15 3 years ago
Well, us poor silver bugs are loving it. Buy Buy Buy!!!!
1fffishy1 3 years ago
I own some double-gold ETN called DGP. Anyone can comment about it? It is backed by gold in London vault somewhere...
sinitskyd 3 years ago
That my friend is a derivative that you have been hearing about. Not that it's bad or good. You just need to know what it is and what your risks are.
Note: this is not a buy and hold type of investment vehicle it is a trading one.
davincij15 3 years ago
I didn't go through all the messages, don't know if someone has already mentioned it.
Google: "More evidence of silver manipulation".
sunamori6765 3 years ago
Do you think it is wise to invest in physical gold at bullionvault?
dontblamethemessenge 3 years ago
My personal opinion of a person who does not have millions, I would say NO. But your situation may be different.
Having millions is just one difference as an example. Lets just say you live in the City and you have a lot of break-ins or you are petrified about confiscation, or you plan to escape the USA. These are all examples of how you may differ from my situation.
davincij15 3 years ago
Hey Davincij,
I really appreciate you comments and views. Quick question, what is happening in your opinion with gold and silver calls in the case you described as comex default ?thanks and merry christmas !
Goelcaro
goelcaro 3 years ago
So you buy a "call option" for the right to buy gold in April 2009 for $1000. (Example)
Then the price goes to $500 on the COMEX and you can sell the physical on EBay for $2000.
In that scenario do you think you will get that physical gold?
davincij15 3 years ago
Actually; I am not interested in physical delivery, (although I could maybe as well if times turn really bad) I took the example of a swiss bank which issues a gold warrant/right to buy at 1200 USD per ounce with an expiration 6/09. It is traded at the SWX Swiss Market. Thanks for sharing your views. Greetings goelcaro
goelcaro 3 years ago
The warrant/right to buy gold is as good as a promise to pay gold. If I can't get it and I default I can give you the current cash price, you can't sue me for more.
You say great, however what happens on 6/09 the market price is $500 and the everyone knows the COMEX defaulted and physical is at $2000? You can't sue for $2000 because that is not the "Official price" any more than you selling it for 10% over spot today. ;)
davincij15 3 years ago
5 stars and favorited
visionvictory 3 years ago 3
thx for the fact finding and reporting.
I agree with you about silver, I'm extremely bullish on silver.
visionvictory 3 years ago 2
Thanks for your rating and support.
davincij15 3 years ago
Did u give gold coin to your kids on X'mas?
glassbuddha 3 years ago
No, they are too young. When they are older yes, my father did and he new everything about the banking system and how it worked. I only learned about it this year and he know all along but never told me. He should have explained why he was buying me silver in the late 70s I would have kept it even after the price dive.
davincij15 3 years ago
The Silver dip, it happened again, just now, right when globex opened; all the way down to $5.20/oz. If it's not a glitch, how is it technically possible? A huge short followed by a huge long?
biefapiqi 3 years ago
Computer buying? I don't know we can only speculate and most likely we are wrong.
davincij15 3 years ago
I've seen this 'glitches' frequently of late for some reason. Just a guess that it's a manipulative move for shorts to sell or longs to buy low. Gotta be very vigilant to catch these quick dips, unfortunately.
worldwiderob 3 years ago
Thank you for your videos. Your channel is very informative.
boonepickensoilman 3 years ago
Will COMEX Default on Gold and Silver?
seekingalpha(dot)com/article/111852-will-comex-default-on-gold-and-silver
JRCrowley 3 years ago
Thanks I have read it and one error the writer makes is that he is assuming that the contract is between the buyer and the seller. It is not. All COMEX contracts are between you and COMEX. That's why it's will be a COMEX default not a banker default.
Also the law does not allow for failure to deliver, means that you must deliver at any price. It means you pay the cash price at the time of failure or judgment.
If someone could sue for gold it would be in a contracts.
davincij15 3 years ago
The plummets are either 1) lower liquidity on a marker. The liquidity is next to nothing on the pre-market, and the spread goes insane or 2) bad data glitch. Happens from time to time in all the markets.
AirelonTrading 3 years ago
A logical and most probable speculative answer. Thanks.
davincij15 3 years ago
thanks Davinchi
pixaloop 3 years ago
Thanks for the update. Just picked up some more the other day. The Fed will do anything to keep the price down, yet we CAN hope for some action next year. I expect modest gains. Long term it is definitely a winner.
InTheSticks1881 3 years ago
That was suppose to say - i buy gold and silver from the Perth Mint...
dojufitz 3 years ago
You are right buddy....anyone stupid enough to sell their gold and silver for "spot" is making a big mistake. Paper silver and gold certificates are going to collapse and they are not as valuable as the real (physical) stuff. F the Fed...thats all i have to say.
Lucky7wins 3 years ago 2
I bought most of my silver on ebay. You will find that on a per oz basis the Canadian silver coins are much cheaper than American ones. Refer to coinflation(dot)com to compare prices,and get the proper dates. Typically you can get a circulated grade coin per ounce the same price as a small bar. The plus is--as a legal tender coin it cannot be taken away by government.
oilsander1 3 years ago
I heard about the Comex default from Max Keiser on Alex Jones just before I saw one of your videos on it.
atkrunner 3 years ago
if the silver is then priceless, what does that do to Silver Wheaton, (SLW) and SIL??
when you say to stock up, do your mean before FebruRY, or before JAN 1. ??
turboredcart 3 years ago
The thing once the COMEX collapses pricing silver will be difficult there will be a price but it will be all over the map. Auction sites that guarantee delivery and can be trusted will be the new price setting mechanism.
davincij15 3 years ago
1) If you look at the settlement prices on the chart link you posted there is no backwardation, the futures prices rise steadily over time.
2) If there were, why do you assume that backwardation is an automatic signal for a bull market?
pismo10 3 years ago
1.
Dec Last = $846.2
Jan Lat = $807.6
2.
Backwardation is not normal for a monetary metal. It means that people do not trust they will get it in the future if it's not in contango. This is not a bullish sign for gold on the market if gold disappears like it did in the fall of Rome the futures price goes to ZERO. As who wants to buy a promise that can not be kept?
Impossible? Then how much is a Mortgage back security? ;)
davincij15 3 years ago
I know it's just an observation I've made from holding dollars for the past 20 years. They are all new now and it's disturbing. I understand the vast majority of the printing is digital but they must be printing lots of real dollars. Otherwise there is no explanation for this phenomenon.
howitzer24 3 years ago
I've noticed that all of my paper dollars are now relatively new being printed in the past 4 years. It used to be that there would be lots of older dollars. I think this is because they are printing so many they have pushed the old ones into such a small percentage. It's messed up.
howitzer24 3 years ago
Physical printing is not the problem, actually physical cash may have more value than digital if their is a bank holiday.
Just remember money is created on a computer screen now and printed when someone requests the physical cash.
We say "print" because it's how most understand it.
davincij15 3 years ago
You know, I've found that a lot of people newly involved in monetary theory are software developers. I'm also a software developer. I've been meaning to respond to your "Gold is money" video but I've been insanely busy with a new project lately... don't hold your breath but I will counter with a video of my own sooner or later.
Anyway, thanks for keeping us all updated on the comex metal reserves.
conquesimo 3 years ago
Well, bless his and his sister's heart and bless you too, D-man. Have a great holiday and we all look forward to more vids and especially February! ;-)
TadRapidly 3 years ago
Zander looks like he is LONG on Gold and SHORT on Tonka Trucks.
TadRapidly 3 years ago
Like most children of the North American 21st century he has more toys than he cares to use.
:)
His older sister has double his toy collection.
davincij15 3 years ago
Woah! I finally have a face to the name. Cool!
ohio1998 3 years ago
Another good vid D.
I was on the phone to the Perth mint the other day, chasing silver. The woman i talked to sounded pissed that i dare ask if there is any physical silver to buy... Long story short, they might have some in January... Or Feb. Maybe.
It was funny, she was supposed to transfer my call to her boss but connected me to another customer in China. Then when i called back (mere minutes) her and boss had gone to lunch.
The heat is on.
TomLandrysHat 3 years ago 2
Yep, they want you to buy a derivative so you can get nothing when gold and silver stops trading.
davincij15 3 years ago
I seriously have no problems finding silver here in Orlando, FL. Try the Northwest Territorial Mint. You'll still have to wait.
ohio1998 3 years ago
I also have no problem finding gold and silver where I live. You can walk down to the local coin shop downtown and pick up American Gold Eagles for a $75 premium. When I looked a couple weeks ago, they had about twenty of them. And they also had a box of silver bullion for a $2.50 premium.
And I'm purposely not telling you where I live, but it's a major city in the USA, anyway :-)
conquesimo 3 years ago
Silver is like finding the last popular toy before Christmas. Most will not find it but some places around the world will have plenty. The reasons are localized desire or means. I should do a collection of businesses that have silver and provide it for Jason Hommel to broad cast to his subscriber base. That would wipe out the inventory real quick.
davincij15 3 years ago
I am in Australia and buy gtom the Perth Mint. They have kilo and 100oz bars in Silver today.
dojufitz 3 years ago
I hear this a lot. I live in Perth and for years have been able to walk into the mint store and buy anything from fractional up to 50 oz gold (love to be able to afford that ;) to 100 oz silver with zero hassle.
A friend managed to get hold of their last 100 oz'er weeks ago and they said they had only had the shipment in two days... All gone!!
I'm not interested in putting my money down for silver i *may* get in the future. I want a straight swap- fiat for metal. Perhaps ive just been spoilt.
TomLandrysHat 3 years ago
I should note I'm on the phone to the mint about every other day.
Every time someone tells me they have loads of silver in i get all excited, call them, and get let down.
TomLandrysHat 3 years ago
thanks for the video
batgirl791 3 years ago
Damn it...... I picked up my phone!
aybesee123 3 years ago
silver is rarer than gold? i was unaware of that.
jeffcaldwell2 3 years ago
Yes, above ground supplies are less than gold. The gold to silver ratio above ground is 5:1 but below ground it's 1:12.
davincij15 3 years ago
thats one wicked laugh .... sue them, sue them for what! ... dollars?
Paper notes may as well put them in the toaster, and see how they go with a bit blueberry jam.
TodMcInerney 3 years ago
Have you given any thought to Platinum?
5 stars and thanks as always!
Frequencitee 3 years ago
Platinum will be the same as gold, over valued.
davincij15 3 years ago
platinum has tanked at one point a couple of weeks back gold was more expensive!!
prepare2008 3 years ago
Another good video. And you've got a good looking child; must be adopted. Just kidding. Keep up the good work!
budb11 3 years ago
Happy Holidays to you and your family too! Thank you so much for doing these videos. They're really like a public service. -And I loved the laugh at the end, "What are you going to sue them for, dollars?" LOL!!!
medulalumosa 3 years ago
Dollars-- the wave of the future. And by 'wave,' I mean: heating fuel.
erhnamdj 3 years ago
Cute kid.
lightleague 3 years ago
We may be able to swap rela gold for say a house or car?
PlatinumGordon 3 years ago
Yes, but it will not be legal unless you use legal tender coins.
davincij15 3 years ago
Hey mate, love your vids, you can still get silver coins from the Perth Mint, Western Australia.
PlatinumGordon 3 years ago
Hi danvinc,
yes it would get interesting - people on kitco say $2000oz gold in 2009.
If the US dollars collapses - won't it like go to $2000,0000,0000,0000,0000,000,000,000,000,000,000,000.99 .....err...u get the idea.
dojufitz 3 years ago
Keep in mind in hyperinflation there is no market for gold and silver, only a black market. I need to do a video on that because most people are not ready for that reality if it where to occur.
davincij15 3 years ago
that would be a good video I dont think there will be a black market I think the bullon dealers/brokers will be ready for business ebay will be one of the main sources where you will get higher prices for example at the brokers a krugger was 510 gbp and on ebay 770
prepare2008 3 years ago
Keep in mind dealers do not work that way. There whole system of buying and sell revolves around the COMEX that offsets risk of price fluctuations.
When you sell silver or gold to them they sell a COMEX contract and if no one buys the gold or silver they are not stuck with it. It is shipped to the COMEX.
If there is no exchange the system breaks down and dealers can't operate because they are taking on the risk that the price may fall.
davincij15 3 years ago
zimbabwe just printed 500 million note. that's right, on a single note. that worth about $65 U.S. dollar. it's not even close to the $100 U.S. dollar bill. so sad.
that is a lot of digit zero to print and could confuse people who couldn't count. i bet they just use the word "million".
damn, all zimbabwe citizens are trillionair easily.
KhmerD0g 3 years ago 2
they already took off 13 zeros
panther9mm 3 years ago
You made my day with that laugh at the end.
dbztiki 3 years ago
Merry Christmas
drcloak 3 years ago
Once the hyperinflation kicks into gear silver and gold will go astronomical. People will be desperate for a safe haven for their wealth and as the dollar collapses. Gold and silver will indeed become very very popular ..and due to greater demand..the price will skyrocket. This is a great video channel..I agree with davinci 100 percent.
nikto2000 3 years ago 2
Maybe, you can buy a house with 10 ounces of gold or 200-300 ounces of silver.
He101A 3 years ago
Adorable boy... I hope the situation allows me to be a father one day, as well...
I appreciate all of your videos. I am just a young student, but you helped convince me months ago to start putting any money I can into silver. I've gotten my hands on about 100 ounces, 50% junk and 50% rounds...
I know it is nothing compared to a lot of you bulls, but thank you. I've been trying to convince my families and friends and I even sent them rounds for Christmas, but we'll see if they listened.
1fffishy1 3 years ago 4
The value of Silver will eventually get above gold over the next 5 to 7 years. If we get Hyperinflation it will be priceless on the market and you will have to sell it on the black market for paper currency.
Just from here on out as long as there is a paper currency do not save your wealth in it. Save it in physical items of value. Find out what physical item people are undervaluing and buy it.
davincij15 3 years ago
The value of Silver will eventually get above gold over the next 5 to 7 years.
Davinc - that is a big call!
I hope it is true!!
dojufitz 3 years ago
Predictions are predictable. The law of supply and demand has been suppressed in silver for so long that it may even go to infinity, like in Zimbabwe. You can buy it but there is no market that sets the price it's whatever the black market wants to pay.
davincij15 3 years ago
What makes me laugh and what I find crazy is that all those people that invested those Billions with bernie madoff and those hedge funds could have checked out a channel like this and saved all thier wealth.....for free.
I thought all the hedge fund guys the analysts and the economists were supposed to be the 'smart money'
prepare2008 3 years ago
I never thought about that! what is the price of gold or silver in zimbabwe? I bet a 1 ounce gold bar or even 1 kilo silver bar would go a long way or even a silver coin.
Yr right them siver bars have almost all gone when the global investment world finally wakes up it going to be crazy
prepare2008 3 years ago 2
you need to think in terms of physical items with large margins of error, like a one ounce bar of silver can be worth 3-6 gallons of milk and the government will want you to exchange metals at banks, but will not give you a good price. the black market will have the best price.
panther9mm 3 years ago
Thanks for the video. Merry Christmas to you and your family, and a happy and prosperous 2009. (Buy your kids some silver bars... they'll appreciate it when they're ready for college.)
JRCrowley 3 years ago
Thanks, however keep in mind paper assets will become more valuable in the future. Not to say that silver and gold will have a lower dollar value it will have the same trade weight value in 18 years as it does today. (Well maybe a little more since it's so rare above ground)
davincij15 3 years ago
good vid. hope to see you back in the chat
bigmoney714 3 years ago
good joke at the end ;)! Hahaha!
SolitonPL 3 years ago 5
Probably just a bad data point is the cause of that drastic drop.
radiospirit 3 years ago
great job! I watch your video and enjoy your comments because you are a real person instead of a talking head telling me what to think...Thanks and continue the great work!
centervilletn 3 years ago 4
hey merry christmas to you and your family davinci! keep up the good work man - i always look for ur vid's.
stshell 3 years ago 2
good one davinci, merry christmas
mikemb123 3 years ago
hmmm silver plunge occurred right at globex opening NYC
will be watching this tonight ..
very peculiar..
check you later ...
peace out
chena3 3 years ago
Scotia Bank has no silver bars, only coins
donaldsonb 3 years ago
Thanks I will head over there and buy whatever they got. Any silver puchased under $20 USD is a steal.
davincij15 3 years ago
Tks, davinci. It's always interesting to watch what you say.
sunamori6765 3 years ago
chena3 3 years ago
That was great sue them for dollars.
bdc03 3 years ago 8
Thanks for the vid man.
Cute kid.
odin422 3 years ago