Thanks for the info. I have a question. I have some gold and silver. let's say it goes way up. Lets say I want to sell some for cash. Since my coin dealer isn't COMPELLED to buy it back, what do I do if he's not buying? Who else will give me cash? Do I need to wheel and deal with the coin guy so I can at least get SOMETHING for my otherwise useless bullion coins? This part of holding physical gold/silver confuses me.
You will always find some dealer to sell your gold to. In most countries you can go to your bank and sell them, just not in America.
A good dealer that is all to happy to buy back your gold at higher prices is GoldSilver.
As long as there is an exchange like the COMEX there will be liquidity for gold and silver, that is the point of their existence. To provide liquidity for commodities and price discovery.
BTW: Dollars will become useless long before gold ever does.
It does not work that way if the shorts can't cover they get sued by the COMEX and the COMEX has defaulted if it is unable to obtain the commodity for a requested delivery by the longs.
If you can't buy the physical metal, there's a Canadain Fund company that trades like a stock (CEF or CEF.A). They actual hold 90% of the actual physical metal (Gold and Silver). Time to buy at these basement prices and take advantage of it. Don't buy any ETF type stock (i.e SLV.ETF, GLD, etc). Either own the real McKoy or buy CEF.
The paper market (COMEX) and the real physical shortage of Gold and Silver are so out of wack. People are starting to take actual phyiscal delivery of their future contracts from COMEX that they will not have enough Gold or Silver to meet the DEC/08 demand. Once this happens, then the paper gold price will be wiped out and the pysical metal price will take over. And when that does, watch the prices of Gold and Silver skyrocket.
great post! i think it may be to late to catch that train tho! if you are wanting to move a large amount of money say over 100k into silver good luck!
Thanks. You're one of the very few sources I've found explaining the consequences of a possible comex default on the precious metals market. What will happen to physical orders still in the pipeline? In other words, if I have coins for delivery still on order at the time of the comex default; what is the likely outcome of my order?
I understand that the price is manipulated by JP and HSBC, but I don't understand that a declining silver price is an indication of a future Comex default. Have you heard of anyone not getting their Comex delivery and getting cash instead?
No the point is that it will happen if the price continues downward. Already major silver investors are albatrossing there smaller bars for larger bars. That means they are selling small bars at $4 - $5 over spot and getting more larger 1000oz bars at $.60 over spot.
This will result in shortages at the wholesale level requiring industry to request delivery of COMEX contracts.
not world wide depression. depression hit only in U.K. and especially U.S.
china has a lot of saving. japan is high tech producer. middle east countries have oil. south american countries have argiculture products. as the rest of the world goes through a corrective phase, they'll continue to trade and do business. the only country in worst position is U.S. they will be left out of the new world economic order. U.K. is second worst position. simply put it U.S and U.K. are in huge debt.
no the real reason is people dont have the money to buy Gold you can tell this buy the amont of silver that is being brought!
india and chian love Gold and for some reason the arab county are buy more gold then ever now it come to reason if people can ahford homes thay cant ahford schooling
and thay cant ahford to invest or to buy Gold
the reason why gold is this high is from foren buying of Gold
Yes it is true most people can not afford gold in fact I am the only one I know buying gold or silver (except one guy who owns the ETF). If you click the more info link to the right of the video I have links detailing gold and silver is selling out world wide.
OK, hang on, your saying that the PPT (plunge Protection Team) and Central banks sell off their gold (for what reason?) and while they do that hedge funds etc take the opportunity to clear their books?
Is that right? If Ive got a handle on that, can you tell me WHY banks want gold at a low price?
You are to kind I am not the best public speaker. I am doing this because of VisionVictory he inspired me to make my own vids on what I see is happening.
When I saw his videos I new everything he new but just did not act on it. It is my hope that people will see my videos and realize they are not alone in their thinking and will take action.
Great Videos, very much appreciated. God Bless you and your family. I am interested in buying silver and a friend suggested ciibbs website, is this a good place to invest in gold and silver or should I just buy american eagles? Or something else? Thanks
The American Eagle is your best investment, there is a good chance the mint may stop making them thus their numismatic value will skyrocket if they are not confiscated.
Try not to pay too much for them but what ever you pay it will be a fraction of the over spot value once silver prices take off.
Thus you are getting the silver content for free. :)
All the dealers are saying "significant delays" in the delivery of orders. I ordered some silver back in July, and I still don't have it. I believe physical silver is the way to go, not paper silver. Which leads to my question. When you have locked in a trade with a dealer, and due to them being swarmed with orders they delay delivery significantly, what are your options? Is that silver as safe as if you held it yourself?
Actually, I ordered some 100 ounce Engelhard bars from NWTM. They don't make them anymore, there are none available with any dealer. This is supposed to be a binding contract on both parties. If they can't deliver, is the contract indefinite? If silver shot up to, say, $50 an ounce, do they have to pay me that if I decide to sell, even though I never got it? Is that like free storage? Or can they admit defeat at some point and have to pay me present market value? I would hate that.
I have ordered from them and it took 2 months for my shipment so I never ordered from them again. Also if they do default they can give you your money back but not the present value. Also you can consider it a default after 3 months delay in shipping from the date they took possession of you money.
You would have to sue for present value. However it's not like you could as present value is $9.35/oz, never mine you can sell it on ebay for $20+/oz. Those are just crazy people buying that. :)
Thank you so much for that information. I was unaware of the three month limitation. Naturally, they won't volunteer that information. In two weeks, I will have either my silver or a refund. You were a HUGE help here.
Much of what you are saying makes good logic, but the bottom line is there are really no absolute guarantees the metals market will follow as good logic might dictate, any more than it is now. Perhaps the next unexpected event will be ownership of gold will be outlawed again, but what ever the case its going to be interesting to see what happens in the next chapter.
You are absolutely 100% correct! The events are fluid and can change at any moment. Who knows maybe China or Saudi Arabia goes and dumps it's dollars into the COMEX to piss off the banks.
They are going to lose money anyway! If they did that it would help revalue the gold reserves they have already upward. But I don't think they are that smart.
So, the price is going down because people are dumping paper gold,to cover their losses in shares, taking the cash and buying physical gold ?
In which case, if that were true, the lower the price of gold, the less paper is being sold, but if the real price of gold you buy at the shops is going to skyrocket if you can get it all ?
You are right and you are wrong. You are right be cause it is part of the picture, you are wrong because there are other factors pushing down the prices.
1. Banks and the PPT sell at opportune times via domestic spying that cause...
2. Hedge fund redemption
3. Margin calls for investors
4. Weak investors that know nothing to sell.
The banks and the PPT will over do it much like the sub-prime and the end result is a COMEX default.
I can only guess and be wrong so if I had to guess and be wrong I would say between $6 and $7. Before the default. I am holding off buying 1000 once bars until then.
Silver fun fact:
Through out most of history 1/10 of an ounce of silver was a days wadge! Just 100 years ago that was true.
Ok this may be a stupid question... but does it make sense to borrow money on the heloc to put into gold if Im willing to service the interest payments for a couple years? Im guessing the COMEX will default by then and the dollar will be hammered pushing gold up to a real market rate. By then China should have given up on treasuries, Paulsons the Feds endless money printing shold make it abck into the system causing inflation and boomers will be trying to cash in their retirement. your thought
Long answer take lots of time and decide what you should buy, consider carefully the possibility of confiscation and looting. Also let me repeat stay away from gold and silver certificate programs. Do a lot of reading about numismatic coins and newly minted coins and bars. Take your time. Even if you miss the boat, it's ok. Finally, do not tell the bank what you plan to do with the money you are loaned. If the COMEX price drops low they may call you.
Here is an example of thinks you should know. Learn the difference between an ounce and troy once and a pound and troy pound. This will help you from being cheated.
There is more that I can not think of right now but it show the importance of learn what you are going to invest in. Also learn why it's valuable so you will have the conviction of knowledge. And know when to sell.
Great video, I like to talk about Silver and Gold on my youtube channel as well.
Fitrade 10 months ago
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.
AmenMaranhata 3 years ago
Yes it's even happening to day as the price over spot for physical is the highest it has ever been.
davincij15 3 years ago
Thanks for the info. I have a question. I have some gold and silver. let's say it goes way up. Lets say I want to sell some for cash. Since my coin dealer isn't COMPELLED to buy it back, what do I do if he's not buying? Who else will give me cash? Do I need to wheel and deal with the coin guy so I can at least get SOMETHING for my otherwise useless bullion coins? This part of holding physical gold/silver confuses me.
TadRapidly 3 years ago
You will always find some dealer to sell your gold to. In most countries you can go to your bank and sell them, just not in America.
A good dealer that is all to happy to buy back your gold at higher prices is GoldSilver.
As long as there is an exchange like the COMEX there will be liquidity for gold and silver, that is the point of their existence. To provide liquidity for commodities and price discovery.
BTW: Dollars will become useless long before gold ever does.
davincij15 3 years ago
Thanks, brother.
TadRapidly 3 years ago
Consider that China and Russia and European central banks have stopped selling gold and started buying the useless bullion bars.
I guess those banks must be crazy right?
lol.
The day you see it as money is the day you will see you have been duped into thinking paper is money.
I'm going to make a video about this again.
davincij15 3 years ago
Dec 28 last day to take delivery on Comex.
truthsabre7 3 years ago
It does not work that way if the shorts can't cover they get sued by the COMEX and the COMEX has defaulted if it is unable to obtain the commodity for a requested delivery by the longs.
davincij15 3 years ago
Gonna be a lot of companies defaulting on the Comex contracts. Gonna be a lot of people that want to go long wiped out.
If they can't cover it they will just go belly up.
Paetaor 3 years ago
If you can't buy the physical metal, there's a Canadain Fund company that trades like a stock (CEF or CEF.A). They actual hold 90% of the actual physical metal (Gold and Silver). Time to buy at these basement prices and take advantage of it. Don't buy any ETF type stock (i.e SLV.ETF, GLD, etc). Either own the real McKoy or buy CEF.
codematrix 3 years ago
The paper market (COMEX) and the real physical shortage of Gold and Silver are so out of wack. People are starting to take actual phyiscal delivery of their future contracts from COMEX that they will not have enough Gold or Silver to meet the DEC/08 demand. Once this happens, then the paper gold price will be wiped out and the pysical metal price will take over. And when that does, watch the prices of Gold and Silver skyrocket.
codematrix 3 years ago
great post! i think it may be to late to catch that train tho! if you are wanting to move a large amount of money say over 100k into silver good luck!
SIERRAHPBT 3 years ago
No. Go to Anglo far east. You can still buy silver at Spot...im not kidding!
barnubius11 3 years ago
Why isn't anyone talking about getting gold or silver from MIDAS RESOURCES? Ted Anderson's company and he runs the Genesis Network too.
Anyway, he still has some gold and silver at spot available. Not much but it's better than nothing. Reasonable prices too.
The tollfree number is:
(800)686-2237
Seriously, I can't find gold or silver from anywhere else or from a REPUTABLE dealer.....
chelle099 3 years ago
Very good video. One of the few vids on youtube which actually give good info. WTG.
Stan1208 3 years ago
Thanks. You're one of the very few sources I've found explaining the consequences of a possible comex default on the precious metals market. What will happen to physical orders still in the pipeline? In other words, if I have coins for delivery still on order at the time of the comex default; what is the likely outcome of my order?
Thanks again for the timely talk.
BlackBuddhist 3 years ago
If you are dealing with a honest dealer then most likely it will be fine. If the dealer is shady like Kitco, NWMint, Monex. Do not expect your metal.
davincij15 3 years ago
Whats the scoop on NWMint?? Thought they were legit.
drcloak 3 years ago
No, they have long wait times right now you have to wait until March 2009. They have been sued because they float on your money.
davincij15 3 years ago
If you don't have it, you don't own it.
drcloak 3 years ago
Yep!
davincij15 3 years ago
I understand that the price is manipulated by JP and HSBC, but I don't understand that a declining silver price is an indication of a future Comex default. Have you heard of anyone not getting their Comex delivery and getting cash instead?
TTBurner 3 years ago
No the point is that it will happen if the price continues downward. Already major silver investors are albatrossing there smaller bars for larger bars. That means they are selling small bars at $4 - $5 over spot and getting more larger 1000oz bars at $.60 over spot.
This will result in shortages at the wholesale level requiring industry to request delivery of COMEX contracts.
davincij15 3 years ago
into space now you and me are simply fokes
that just want to make a liveing
and to get by, but this is going to be close
call for humanty this way be the end game
the leader have to chose between total power
or mankinds servival the leader have now become pawns in this master game of chess
with the world as the board its going to be fun in watching what hapends to the world
in the next 300 days
mwell50 3 years ago
hear is the good new gold price is stable at 600.00 even thowe it up to 800.00+
the very Bad new if the usa dose not
bail out the world of fix the Dete problem
gold will hit as high as 10.000 an once
belive if or not! insane yes ture yes
but! it would mean the end of all banking as we know it 10 year of a broken encomy
world wide Derpresson if the leader dont stable the encomy the hole world will be put back 100 years worse case! ww3
in the end its the end of man kind we dont make it
mwell50 3 years ago
not world wide depression. depression hit only in U.K. and especially U.S.
china has a lot of saving. japan is high tech producer. middle east countries have oil. south american countries have argiculture products. as the rest of the world goes through a corrective phase, they'll continue to trade and do business. the only country in worst position is U.S. they will be left out of the new world economic order. U.K. is second worst position. simply put it U.S and U.K. are in huge debt.
KhmerD0g 3 years ago
no the real reason is people dont have the money to buy Gold you can tell this buy the amont of silver that is being brought!
india and chian love Gold and for some reason the arab county are buy more gold then ever now it come to reason if people can ahford homes thay cant ahford schooling
and thay cant ahford to invest or to buy Gold
the reason why gold is this high is from foren buying of Gold
mwell50 3 years ago
Yes it is true most people can not afford gold in fact I am the only one I know buying gold or silver (except one guy who owns the ETF). If you click the more info link to the right of the video I have links detailing gold and silver is selling out world wide.
davincij15 3 years ago
OK, hang on, your saying that the PPT (plunge Protection Team) and Central banks sell off their gold (for what reason?) and while they do that hedge funds etc take the opportunity to clear their books?
Is that right? If Ive got a handle on that, can you tell me WHY banks want gold at a low price?
shikira 3 years ago
good info, getting on that train!
rockolee 3 years ago
good vid, 5s.
jimjaas 3 years ago
You are to kind I am not the best public speaker. I am doing this because of VisionVictory he inspired me to make my own vids on what I see is happening.
When I saw his videos I new everything he new but just did not act on it. It is my hope that people will see my videos and realize they are not alone in their thinking and will take action.
davincij15 3 years ago
excellent video bro...keep up the good work
dcs5150 3 years ago
Great Videos, very much appreciated. God Bless you and your family. I am interested in buying silver and a friend suggested ciibbs website, is this a good place to invest in gold and silver or should I just buy american eagles? Or something else? Thanks
shouldlistentoronpau 3 years ago
The American Eagle is your best investment, there is a good chance the mint may stop making them thus their numismatic value will skyrocket if they are not confiscated.
Try not to pay too much for them but what ever you pay it will be a fraction of the over spot value once silver prices take off.
Thus you are getting the silver content for free. :)
davincij15 3 years ago
All the dealers are saying "significant delays" in the delivery of orders. I ordered some silver back in July, and I still don't have it. I believe physical silver is the way to go, not paper silver. Which leads to my question. When you have locked in a trade with a dealer, and due to them being swarmed with orders they delay delivery significantly, what are your options? Is that silver as safe as if you held it yourself?
elpilotoazul 3 years ago
No it's the same as owning paper silver. They ow it to you but can give you your money back at the current price of silver.
If you sued them you may get it at the price you paid if it was higher than current price, but it would not matter.
Sorry.
Let me guess you ordered it from Kitco?
davincij15 3 years ago
Actually, I ordered some 100 ounce Engelhard bars from NWTM. They don't make them anymore, there are none available with any dealer. This is supposed to be a binding contract on both parties. If they can't deliver, is the contract indefinite? If silver shot up to, say, $50 an ounce, do they have to pay me that if I decide to sell, even though I never got it? Is that like free storage? Or can they admit defeat at some point and have to pay me present market value? I would hate that.
elpilotoazul 3 years ago
I have ordered from them and it took 2 months for my shipment so I never ordered from them again. Also if they do default they can give you your money back but not the present value. Also you can consider it a default after 3 months delay in shipping from the date they took possession of you money.
You would have to sue for present value. However it's not like you could as present value is $9.35/oz, never mine you can sell it on ebay for $20+/oz. Those are just crazy people buying that. :)
davincij15 3 years ago
Thank you so much for that information. I was unaware of the three month limitation. Naturally, they won't volunteer that information. In two weeks, I will have either my silver or a refund. You were a HUGE help here.
elpilotoazul 3 years ago
He he I agree Sir! I have bougth silver for a long time now
madcatzy 3 years ago
Much of what you are saying makes good logic, but the bottom line is there are really no absolute guarantees the metals market will follow as good logic might dictate, any more than it is now. Perhaps the next unexpected event will be ownership of gold will be outlawed again, but what ever the case its going to be interesting to see what happens in the next chapter.
iamitchey 3 years ago
You are absolutely 100% correct! The events are fluid and can change at any moment. Who knows maybe China or Saudi Arabia goes and dumps it's dollars into the COMEX to piss off the banks.
They are going to lose money anyway! If they did that it would help revalue the gold reserves they have already upward. But I don't think they are that smart.
davincij15 3 years ago
So, the price is going down because people are dumping paper gold,to cover their losses in shares, taking the cash and buying physical gold ?
In which case, if that were true, the lower the price of gold, the less paper is being sold, but if the real price of gold you buy at the shops is going to skyrocket if you can get it all ?
correct me if that is wrong - thanks.
shikira 3 years ago
You are right and you are wrong. You are right be cause it is part of the picture, you are wrong because there are other factors pushing down the prices.
1. Banks and the PPT sell at opportune times via domestic spying that cause...
2. Hedge fund redemption
3. Margin calls for investors
4. Weak investors that know nothing to sell.
The banks and the PPT will over do it much like the sub-prime and the end result is a COMEX default.
davincij15 3 years ago
I have a place to buy Silver, How low do you believe Silver will go?
Rev. Lonnie
rlmccullough 3 years ago
I can only guess and be wrong so if I had to guess and be wrong I would say between $6 and $7. Before the default. I am holding off buying 1000 once bars until then.
Silver fun fact:
Through out most of history 1/10 of an ounce of silver was a days wadge! Just 100 years ago that was true.
davincij15 3 years ago
at that time where will you buy the 1000 ounce bars? Just so I have an idea where to buy mine, lol
shouldlistentoronpau 3 years ago
Around Between $6 and $8 I will feel it out, I hope the premiums are not too high. Right now it's 60 cents over spot for 1000oz bar.
davincij15 3 years ago
where can I buy silver?
shouldlistentoronpau 3 years ago
google MIDAS RESOURCES....
chelle099 3 years ago
Thanks for the video. Am following any news on gold and silver very closely of course. Can the banks and comex hold the prices down indefinitely?
andrewebisu 3 years ago
They are holding down paper not physical gold and silver. Just go try buy some small bars and you will understand what I am saying.
davincij15 3 years ago
Ok this may be a stupid question... but does it make sense to borrow money on the heloc to put into gold if Im willing to service the interest payments for a couple years? Im guessing the COMEX will default by then and the dollar will be hammered pushing gold up to a real market rate. By then China should have given up on treasuries, Paulsons the Feds endless money printing shold make it abck into the system causing inflation and boomers will be trying to cash in their retirement. your thought
myeyepie 3 years ago
Short answer Yes.
Long answer take lots of time and decide what you should buy, consider carefully the possibility of confiscation and looting. Also let me repeat stay away from gold and silver certificate programs. Do a lot of reading about numismatic coins and newly minted coins and bars. Take your time. Even if you miss the boat, it's ok. Finally, do not tell the bank what you plan to do with the money you are loaned. If the COMEX price drops low they may call you.
davincij15 3 years ago
Here is an example of thinks you should know. Learn the difference between an ounce and troy once and a pound and troy pound. This will help you from being cheated.
There is more that I can not think of right now but it show the importance of learn what you are going to invest in. Also learn why it's valuable so you will have the conviction of knowledge. And know when to sell.
davincij15 3 years ago