I have been a broker for 20 years. Recently the major broker dealer I work for asked me and my clients to leave due to too high of a concentration in physical metals.
I am now in the process of moving my clients and metals to a new custodian. Here is where things get interesting: Every transfer is being rejected multiple times for the any reason the old major broker dealer can come up with.
More interesting is all, when the old broker dealer finally does transfer the metals to the new custodian, NONE of the bars are the same in weight or serial number as my clients’ statements!
The old broker dealer is having to come to me and my clients with bars of different serial numbers and weight than the one listed on the statements or from old trade confirms.
This mis-match on transfers proves to me that the old broker deal NEVER had the metals and are now having to go acquire them to make good on client transfers.
I am 100% certain that the most of the metals have been removed from the United States, and when the stock market and bond market crashes this fall, all metals in private accounts will either not be there, or confiscated.
Heed this warning people, then end is HERE
I've always bought silver on the way down and sold it on the way up. This strategy as simple as it sounds has worked very well. I watch for silver gold ratios and a few other things. With these ETF's the purchase and sale is so easy. I bought at 21. I'd like to make 3 or 4 more purchases on the way down.
I read that article this morning also. Very Interesting. I am sure more people will wake up to this and start to hold their own commodities. As the years go one the word will spread and more Stackers will join in. Just look at what has happened in the last two years. Record sales with much higher pricing. So lower pricing will make it that much easier to buy more. Keep lowering the price. We Stackers enjoy a good discount.