28 billion at today's prices (see below)
That's chicken feed compared to the paper money out there in the hundreds of trillions !
So if even 1% of stock holders decided to buy this ET for example they in turn would have all of the silver available. Think about that in this era of dow stocks with hundreds of billions in market caps with and other central banks fed printing money ad infinatum. Of course if some people even bought 10 billion of physical silver the price per oz would be approaching 100.00 and this stock would be around 50.00 per share..
That's not so much a stretch going up 5 times when many stocks go up 30 or 40 times in value....
AS far as gold being overpriced for example it has risen about 5 times since 1980 while the dow is up 17 times...
So which is inexpensive and the silver ratio then was 30 to 1 where it is 60 to 1 so silver should be close to 40.00 now if the ratio reverts to the mean...
"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, according to The Silver Institute's ''World Silver Survey 2013,'' identifiable silver bullion stocks worldwide (not including bullion held in depositories on which information is not available, or in private investor vaults) totaled just 1.366 billion ounces at the end of 2012."
the pros already knew what was coming thus the increase in priced for PM's today will be a good day for miners and metals
Bull pennants are continuation patterns, which implies that an upside breakout would confirm a resumption of the recent uptrend move. Let's look at how this could work. The large up thrust day on June 19 formed the so-called "flag-pole" of this developing pennant pattern. The action on June 20 and on Monday is starting to build the pennant portion. Generally, the pennant portion has a time limit on it —usually under a week.
Watch support at the June 20 daily low at $1,307.10 and resistance at the June 20 daily high at $1,322.50. For now, those are short-term toggle points for traders. A move above the high is bullish, while a move under the low would be bearish and would suggest the pennant formation is failing.
In order to "confirm" an upside breakout from this potential bull pennant, a strong and sustained upside breakout would be needed through the top of the pattern, which at this point is the $1,322.50 level. Two consecutive settlements above the breakout point are utilized by more conservative traders for confirmation. A "measured move" objective can be seen from the length of the flagpole to the top of the pattern. A strong upside breakout above $1,322.50 would project gains to the $1,368 area once confirmation of the bull pennant is seen.
is up 1% today so I am expecting HL to close green today...
Dow as 1000 in 1980 gold was about 250 in case you don;t get what I am talking about..
and the stock market is cheap......
Amazing isn't it ?
China, the world’s biggest gold user, will start international gold trading in Shanghai’s free-trade zone in the final quarter of this year, according to a city government official.
“We will aim to commence trading in the fourth quarter,” Zheng Yang, head of Shanghai’s financial services office, said today in a conference in the city. The nation’s central bank earlier this week approved the trading platform to be included in the zone’s banking system.
China, also the world’s largest bullion producer, is seeking to step up its presence in the global gold market at a time when the industry is discussing changes to the century-old fixing benchmark in London used to trade and value the metal. The country overtook India as the largest user last year as the biggest price drop in more than three decades spurred purchases, the World Gold Council said in February.
“The new platform is to attract foreign investors and to get China more influence in the global bullion market,” said Liu Xu, an analyst at Capital Futures Co. in Beijing.
I see Short shares were up last month for Hecla !
I expect some big moves up for Hecla in coming days as this one is best of breed !
Did you see PSLV I own that one and HL good day !
the 25.00 stop for gold that is usually the norm was taken out solidly today !
Goldman must have all the gold and jp morgan all the silver they need now !
Soon you wil hear them telling you to buy gold and silver !
this is how the game is played !!!
At least I am consistent !
I think DF is a trader and thats what they do
I am buy and hold I think today is big a real breakout with gold taking out the normal 25.00 stop
He said a decisive move over 1300 would be huge and would open the door to 1500 gold !
as massive buying and short covering would occur in the next few days based on his chart patterns..
Recently nominated top Fed Member Fischer (not to be confused with FISHER) is known to be very dovish as he devalued the Israeli Shekel to make Israel More competitive...
Search it and see...
shorting mortgage backed securities!
This time however they WON"T need a Governement Bailout as GOLD AND SILVER
HAVE ZERO COUNTER PARTY RISK !!!!!!!
They must have been buying it as they sold short the mortgage backed securities..
This time though they won't need the government to bail them out of this bet as
GOLD and SILVER have NO COUNTERPARTY RISK !!!
Were you snookered ?