Is Eric Sprott QUADRUPLING his physical silver pSLV fund?

[deanmat]

Why did PSLV drop 6% on Friday. Slv was only down 1 or 2 %.

[SilverLadyBug999]

Overall silver production rose by 2.5% in 2010. New projects in Mexico and Argentina were the main reason for this increase, which totaled some 739.5 million ounces. Form some research I have been doing today silver production may have only risen slightly in 2011. I think that means that would mean Sprott's physical silver pSLV fund would be increasing by around 17% of the years mined silver supply if my calculations are correct. Correct me if I'm out.

[drutter]

@SilverLadyBug999

2 comments on this old vid within a few hours... cool :)

Jandy, I once signed up for newsletters from First Majestic, a silver bullion company that mines from Mexico and sells from their office here in Vancouver. I usually skim their quarterly and yearly updates but don't know what else to do with them. They've seen huge gains over the past couple years in both mining and sales. If any of their numbers would be helpful just email me.

Piggy squeals from Canada!

[TheSilverWatch]

@drutter That's because Randytoof is commenting on this video. See his most recent vid.

[BillyJHoward]

I have been invested in this PSLV fund for about a year. This is a big story that might only really break into the news once he gets buyers to fill the orders. He has written letters to all the major silver mining corps asking them to invest in silver at his fund rather than placing their assets in fiat money at a bank. Think of it as a construction on the silver equivalent of the oil producers OPEC organization. The thought being that if he can get miners to hold back silver prices will rise.

[grapecrusher]

thats about 5% of all the planets inventory.

significant?

[SluckyW]

Silver physical market is trading at 40$ an ounce on ebay... dont look at the paper manipulated by big US Sponsored by the FED banks. 1.5 billions is just huge... people should look out what it did when he bought a 3x less silver a year ago !

[fursatali]

I think 43 million oz of silver is too small to cause any substantial rise in the price.

[drutter]

@fursatali

Assuming you aren't joking, you should have a look at the numbers. That amount of silver is similar to the amount purchased by investors worldwide in a year.

[fursatali]

@drutter I would be the most happy person if what you are telling is the truth. Do you have a link where I could confirm the facts?

[drutter]

@fursatali

There's no one link, I'm afraid. The data are misreported, hidden, and highly disputed. But note that 10 million ounces of Silver Maples are produced and sold yearly. I believe the number of American Eagles is 30 or 40 million annually. Then there's other major mint coins, as well as bars. As you'll see from this and any other digging you do, the 47 million ounces Sprott may be buying is not "too small to cause any substantial rise in price".

Question is, will he really buy all of it?

[silverexplosion]

Sprott wants my 832 ounces...but I ain't sellin!

[SilverLadyBug999]

I shouted out Silver & I was right LOL but that was easy.

A tiny threepence is still worth more than a fiat $1. Remember boys, size dose not matter, it's the silver content that hits the Sweet Spot ;)

[drutter]

@SilverLadyBug999

I was going to reply to this with a sexual innuendo but you seem to have covered that pretty nicely in your comment!

And yeah I would so much rather have a tiny silver coin than a large steel coin (or even worse, a plastic rectangle).

[dvnwnd07]

lol at all the rocket videos on the right.

[gibbo675]

THRUPPENCE!

I heard you, top marks.

[AnarchoCapitalistTV]

love how this is bringing up a load of PSLV rocket launch videos.

[almanacaa]

Very cool. I think you would enjoy making your own bars. Have you looked at the small crucibles on ebay? If you get one start with the .5-1 ounce size. Also you need to use a real torch w/tanks. I have a a lot of fun melting some old broken jewelry.

[GuildF40]

Fonzd for showing people your tiny ...... SILVER :)

[thedouglee]

What if he's diluting the shares?

[ArgentPure]

Eric "Hunt" Sprott strikes again! Go! Go! Go!

[silvermaple70]

PSLV is invested in 1000oz bars.

[gavinjengel]

What was the PayPal competitor that you mentioned that you prefer to keep fees down? Also, have you checked out dwolla-dot-com for sending payments?

[wizdumb420]

Get this... about 5 minutes after i saw your vid about the latest $20 silver piece out of the Canadian mint I ordered my 3 coins. They FINALLY charged my card end of last week! they waited for the price to crash again to mint the puppies... i also see it as the Canadian gov tipping their hand at the low price they have in mind....

???

[brown55061]

You almost make me want to be canadian so I could buy off you.

Even if Sprott bought 1.5 billion of silver, that's not a huge chunk out of the physical market. If he were forced to buy maples or eagles I could see a problem because production has been slow this year. But I would guess he's accumulating kilo bars, which are much easier to come by right now.

[jimbobubbadj]

@brown55061 There's only about 700 million ounces of silver in existence. There's no way one can buy 1.5 billion ounces of it. Industrial use uses most of it which is not recycled. About 800 million ounces/year are produced worldwide each year for now. This is predicted to decline soon due to silver being depleted on average worldwide.

[brown55061]

@jimbobubbadj

Sprott is buying 1.5B dollars worth, not 1.5B oz. Simple misunderstanding. He would end up getting around 48 million ounces. And yes global output has been decreasing slightly. The US mint ran out of silver to make eagles. No doubt it's going higher eventually. But if helicopter Ben allows deflation to happen this winter we could see a decrease in manufacturing needs globally, meaning an 08 style drop could happen. If it does, I'll sell everything and buy silver.

[mrbrianmoran]

@brown55061 My sentiments exactly

[jimbobubbadj]

@brown55061 People have to realize that natural resources are limited.

[nmreich]

@brown55061

> You almost make me want to be canadian so I could buy off you.

Canada welcomes people like you. File for permanent residency and come on up here!

[Stokjockey]

October 29th 2010 was the first day that PSLV started trading publicly. Mr. Sprott is stacking more, why aren't you ??

[solojam]

how many in the tube?

[SilverRevolution1]

Better stack up b4 Sprott cleans out my local shop.

[amountnman]

Each unit is 2/5th of an ounce.It sells at about a %20 premium.I own pslv in my 401k.Im all in pslv in 401k.REmember he opened the fund at $10 when silver was at $25.

[dispersingweight]

$1.5 billion in pslv units over 25months. I hope everyone on this channel has some cheap ass phys stacked cause it's gonna be much higher in 2 years.

[okpapereat]

could be lower then half ounce cause they also include the nickel. my smallest silver are the swedish silver coins, there not even 80% but 61 l believe and there like about a gram in each maybe even less lol

[martialarm]

Go Eric go!!!! Now we will see if there is such amounts of silver available.

It would also be great if he sold 1/3 of his gold and bought silver..

Hey Drutter good vid..

[bigrsoul]

@martialarm , good call, silver backwardation until 2014,lol. sprott is up to something me thinks!!

[waypastprime]

Why would you believe he has physical? What makes him any different than Madoff, Corzine or any other money motivated deviate? Just do what you do. He will not be audited, none are. I might start the waypastprime silver trust... I am good for it, and I bought a bazillion trillion tons of gold. I am selling it for 12 dollars an oz, as I bought it long ago,,, Send you money order to PO box...... I do not do paper when it comes to metals... BTW,,,, Have you looked at wheeler silver. Cool stuff

[SilverNewJack]

He's not paying above spot. He gets his silver below spot price.

[drutter]

@SilverNewJack

If that's true, he needs to find even MORE ounces of physical silver available to be taken off the market and put into his vault.

[jimbobubbadj]

@SilverNewJack He won't get it from many below spot.

[TheSilverWatch]

Yeah Man !.....I Wanna Hear Streetmoney21 say something! Yeah Man !

[88MetalMania]

Drutter are you backing Sprott?

[drutter]

@88MetalMania

He called me for my stack but I told him I aint selling until $300.

[JanRichardus]

@drutter DITTO>

[Spokoze]

Ya'mon!