The Netdania volume averages about to about 325 tons of paper gold trading per hour since August 25. I think that is just FOREX paper. Who knows if it is just algos trading back and forth. Every time one of these periods has ended, it has in fact, marked a major bottom. I suspect it is a sign of intentional manipulation of some type. It doesn't always end at a low. A couple times they just gave up and the market got away.
Copper is $3 a pound = 21 Cents a troy ounce
Silver is 18.50 A troy ounce
17 million tons of copper mined a year.
20,000 tons of silver mined per year
17 million / 20,000 = 850 (copper is 850 times more mined than silver)
.21 X 850 = $178 per ounce is what silver would be at if priced the same copper.
Also, if you think 100 is high for a coin, well it is. But look at the other proof coin series from perth. The first issue is the one you want. They appreciate like mad. Plus this one has dinosaurs on it. Haha. This is a good time for high grading a stack.
If you want to upgrade your stack while silver is cheap, these are the best coins to get now that will pick up a collectors premium.
2015 Australian Kookaburra, Cheap, Collectable, 2014 is already almost $30.
2014 Canadiane Maple Peregrine Falcon, 1st of a series, Cheap.
2014 Australian Age of Dinosaurs Australovenator, 1st of a series proof, still priced under $100.
Keep taking the physical metal. The USd, bonds, and the US stock market are the most massive bubbles in history. Gold has never in US history been this cheap. US debt continues to accelerate. The money supply continues to accelerate. Do not get fooled. You don't need leverage to make 10x. Hard asset money is the only place you should be. Bankers owe it. They can't control it. Just take as much as they are willing to lose. .
Hyperinflation remains the only possible outcome. These dummy trolls post all day and all night because they are buried shorts in decaying derivatives. Anyone telling you to short gold, even over the past 3 years, has no idea what is going on. Gold is going well over 5k. That is just the way the math works out. Take their gold while they are noob enough to borrow and sell it.
I can look online and see what a dealer will pay for various silver products. Anything through a government mint seems to have a larger premium. But the dealers also buy back well over spot. And it is only a couple bucks difference usually. At these prices I am not concerned with premium/discount. The prices even with a premium are too low to care about, especially when I know what the math says the price can go to.
I know. On one hand I don't want anyone to buy this garbage and get stuck with it. On the other, if they all sell will it do crazy things to the paper price. But I have to be honest and tell people to avoid it. There is no real reason to buy it when you can have the real thing anyway. The paper price will take care of itself. It will either go to zero while physical picks up what people call "a premium" (the real price), or the market will be reformed and paper will reflect real market forces. I really don't like the idea that paper could stay at 20 and there just is not any available in the real world under 400.
Pretty simple theory on why silver OI is insane and stays that way. I suspect this OI represents the contents of SLV. That is the silver they don't have in their vaults, but claim to have. It is the total of contracts they can call in if SLV ever needs to redeem silver, and it is the hedge that maintains exposure to silver prices. They just keep rolling the contacts over to maintain a large position in silver.
That's my theory.
They freaked when they realized they could be observed in volume patterns and any ease off caused a rally. They were forced into turning them back on. Keep taking the physical. They can't do anything right except dig themselves gold debt holes. Gold has never been cheaper in history. Gold longs have been correct about absolutely everything. Gold sellers have never made a single correct economic or political.prediction because they are dreamers and scammers with no ability to undersatnd .economics. Take their gold. It will have another 2 zeros on the end of its price. There is no otheroutcome but hyperinflation for a debt backed currency issued by a failing economy.
They appear to be finished trying to manipulate the price. It is going to start rising pretty fast from here if ot follows the same patterns. I dont see why it would be different this time, except forthe fact that the manipulation didn't work very well.
Enjoy taking advantage of the banker paper gold debt. The bankers want desperately for people to give them gold because they are crushed behind the 8-ball. They emptied their client vaults to try and protect their paper derivatives. Just say thank you and get what you can while you can. Gold is still going over 10k. Nothing has changed but the size of the gold debt the bankers owe. Physical only, and do not leave it in banking system. This is no different than any other bank run through history.
I suspect that Netdania volume represents FOREX paper gold contracts based on spot gold. The incredible volume probably represents a sidebet on a planned move in the futures market. There is no way a bet of this size would be made in the spot or futures market itself because it would move it around too much. As a gold buyer, believer in empty vaults and leasing, predictor of global financial carnage, and believer in the mathematical certainty that these historically lowest ever prices cannot be sustained, I am biased to suspect the long term gold debt and leases in this market are going to be bought back and this FOREX trade is to profit on the way up or hedge what will happen when physical metal is bought back. All I can say for sure is that there is a massive paper bet being made.
I suspect a central bank fiat printing press is on one side of the trade, and western bankers printing contracts on margin are on the other side. This market is very liquid and very hungry for gold while someone else doing their best to not let their shorts explode. If delivery is taken, I don't know what it will look like. Take the physical.
The volume at this dip is exceeding the volume at the bottom in 2013. There has never been a volume spike of this magnitude, on a dip, that was not followed by hundred point plus rallies. The amalgamated volume on netdania is absurdly high.
It is going to have another 2 zeros on the end of it in 20 years. The bankers are just stuck short after making terrible bets on what the economy would do. Gold longs have correctly predicted every economic and political event because they use math of what exists and the history of is always done to cope with the math. Take the physical. The paper market should be used against the bankers while they are still living trying to fight against the math. All of this is predicted. Whether the paper market dies or gets reformed does not matter. Physical gold will continue to defeat fiat until the gold standard returns. Physical metal only.
No dude. Yes, banks can loan without limit. You keep insisting there is some kind of banking or accounting standard. There is not. There is only a license for fraud. You are simply ignorant of what is really going on. Banks do not have to report accurate financial statements BY LAW anymore. They are all gaming the system, or they would all be dead right now.
Wrong. Bankers do not loan deposits. Money is created at the origin of the loan out of thin air. They create an asset that is your debt to them, and the credit, the money they give to you, at the same time and balance it out on their books.