Bob Chapman - Default on COMEX and $50 Per OZ Silver Very Realistic (Part 1)

Bob Chapman explains how a default on the COMEX (A division of NYMEX, the New York Mercantile Futures Exchange which is one of the biggest commodity futures exchanges in the world) will be inevitable as the price of physical silver bullion reaches upto $50 per OZ and above. Bob explains why HSBC and JP Morgan will lose billions, in addition to the LBMA (London Bullion Market Assoc.) and London Metals Exchange which will go bust overnight- nobody will want to trade!

This is because various exchange traded funds trade in paper derivatives- SLV and GLD and some investors are incentivsed NOT TO TAKE PHYSICAL DELIVERY of bullion (some upto 70 and 80% profit for not doing so!)

Visit my website for information on precious metals investing at www.silverhurricane.com

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[ownerowner100]

@11mac11s . I worked hard to earn money to support my family, That is far from selfish. I am writing books to explain to others what is going in U.S. with the FED and our gov, that is far from selfish, since I will be earning very little amount of money doing it. If I was selfish I would stay in my corp career and spend my money on myself and not supported my family. Do you work hard to support your family? I think not. You will never understand what it is to be a man and you waste your life

[ownerowner100]

@11mac11s --- (1) had to support my folks/younger brother/sister so GOD made me a hard worker so I could earn the money (2) Now that my folks are OK & my brother/sister are done with college/working in steady jobs I am leaving my corp career (3) I will be earning very little now, cause I'm writing books on the economy, wars in middle east, etc to inform others (4) The Real Problem? When you look at me or yourself you see a "Black Man", but when I look at you or myself I just see a "Man".

[ownerowner100]

@11mac11s - (1) I am very black, both my folks were poor uneducated blacks (2) why do non-whites always think that you must be white to work in corporate America. (3) I wanted to make good money honestly, so I put myself through college by working as I went (3) Like the whites, I worked 60 hours work weeks for the last 10 years and had a lot of pressure/responsible (4) non-whites saying "White man is the Devil" just shows that they blame white man for their bad decisions and their problems.

[ownerowner100]

@11mac11s Sorry, but I need it for my future... I will be holding on to my PM until it peaks then I will sell it and buy some rental properties so I can have some passive income so I don't have to work in corporate America anymore, I hate being a corporate slave. So my PM will allow me to me to retire faster. I worked very hard in Corporate America, I don't want to work that hard anymore.

[ownerowner100]

@ownerowner100 Sorry, but I need it for my future... I will be holding on to my PM until it peaks then I will sell it and buy some rental properties so I can have some passive income so I don't have to work in corporate America anymore, I hate being a corporate slave. So my PM will allow me to me to retire faster. I worked very hard in Corporate America, I don't want to work that hard anymore.

[ownerowner100]

@11mac11s - no, I wish, I bought $10K worth of silver maples. (I have $57K worth of silver maples and eagles now). In the next few months, I plan to buy $100K more of gold/silver maples and eagles.

[ownerowner100]

i bought 10K more silver maples on Monday, however I should of waited to buy today (tues), I would of saved a dollar or two on spot price,

[Donninator1]

good interview (first)