Gold and silver prices are down

Reptile said:

As Gold Heads For $3000, BofA Digs Into Intensifying Market Dislocations​


As Gold Heads For $3000, BofA Digs Into Intensifying Market Dislocations | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com


Paywall removed:

RemovePaywall | Free online paywall remover

Remove Paywall, free online paywall remover. Get access to articles without having to pay or login. Works on Bloomberg and hundreds more.
www.removepaywall.com www.removepaywall.com
Click to expand...
Ok but would you rather have 1oz of gold or 110oz of Glock
 
Trafficdiver said:
Ok so it costs 3 McDonalds meals. An oz of gold costs 200 McDonalds Meals.

As for someone stealing them, sure, someone could steal them, someone could murder me. Life doesn't come with a guarantee, but I'll take my chances.

My dad had a gun safe for 40 years and we made it out alive.

SLV is a blackrock scam. When things break down, if you don't hold it, you don't own it. That SLV will get you a warm fart when the dollar tanks.

And I want to feel my money, not let some other a**h*** play with it.
Click to expand...

SLV is backed by real silver. The only problem is the same physical bars are also used to back futures contracts, and god knows what other derivatives. If silver ever explodes upwards in price, it'll be a battle to see which derivative gets the physical silver.
 
Varmint said:
SLV is backed by real silver. The only problem is the same physical bars are also used to back futures contracts, and god knows what other derivatives. If silver ever explodes upwards in price, it'll be a battle to see which derivative gets the physical silver.
Click to expand...
Tell SLV you want to stand for delivery and see what happens.

As I said before, if you don't hold it, you don't own it. I'd much rather trust a local vault (my back yard) than something owned by Blackrock.
 
Trafficdiver said:
Tell SLV you want to stand for delivery and see what happens.
Click to expand...
Actually, SLV does provide a physical delivery option, but only at 50,000 ounces at a time. For PSLV, the minimum is 10,000 ounces. Kitco offers pools with a redemption option, but the cost to redeem is about as high as cashing out and buying the silver product of your choice.

Keeping metals in your back yard is, of course, your choice, but in addition to the bid/ask spread and possibly shipping costs you have to deal with the "hit by a bus" problem. If you don't tell someone about your stash and get hit by a bus, it remains buried until a future owner decides to do some landscaping. If you do tell someone, well, it's no longer a secret.

As I noted, I do hold physical silver, and no, I'm not going to tell you how or where I store it.
 
Parker Schreiber said:
Actually, SLV does provide a physical delivery option, but only at 50,000 ounces at a time.
Click to expand...
Buy 50,000 ounces through SLV and tell them you want to stand for delivery and let's see what happens.

Same with PSLV. Buy 10,000 ounces and tell them you want to stand for delivery and see what happens. I'll bet you 10 oz that you don't get it.
Parker Schreiber said:
As I noted, I do hold physical silver, and no, I'm not going to tell you how or where I store it.
Click to expand...
I had a handsome trove of backyard silver, but it was lost in an unfortunate canoe accident in 2021 or 2022.
 
Trafficdiver said:
Tell SLV you want to stand for delivery and see what happens.

As I said before, if you don't hold it, you don't own it. I'd much rather trust a local vault (my back yard) than something owned by Blackrock.
Click to expand...

I put SLV in the same category as a mutual fund, ETF etc. you’re at risk in extreme financial events.

It’s probably even higher risk since I think a run on silver could cause SLV to default and return your money at the pre-run price. I think that’s written into the fine print.
 
Trafficdiver said:
Buy 50,000 ounces through SLV and tell them you want to stand for delivery and let's see what happens.

Same with PSLV. Buy 10,000 ounces and tell them you want to stand for delivery and see what happens. I'll bet you 10 oz that you don't get it.

I had a handsome trove of backyard silver, but it was lost in an unfortunate canoe accident in 2021 or 2022.
Click to expand...

PSLV is a closed end fund who doesn’t use derivatives so they should have no problem delivering. I’m sure people have done it. SLV I think gets audited for their physical silver , I’m sure it’s there, the question is does the custodian use that same silver to back other derivatives. Supposedly yes they do, so in a crisis you probably won’t get the physical.
 
Last edited:
Varmint said:
PSLV is a closed end fund who doesn’t use derivatives so they should have no problem delivering. I’m sure people have done it. SLV I think gets audited for their physical silver , I’m sure it’s there, the question is does the custodian use that same silver to back other derivatives. Supposedly yes they do, so in a crisis you probably won’t get the physical.
Click to expand...
Have you personally had PSLV deliver silver to you? Have you ever met anyone who has had PSLV silver delivered to them?

I'm 100% sure your answers are no and no.
 

Similar threads

Homemade buns and rolls
Replies
1
Views
288
grey
grey
Calcium Hypocholite - local and cheap water sanitizer!
Replies
6
Views
399
240Geezer
2
Gold Question from Newbie
Replies
23
Views
1K
Varmint
Varmint
FREE….seed starting and basic garden planning & questions seminar. 4/6/24 Hardwick MA
Replies
7
Views
271
mousegunguy
mousegunguy
Problem with my ExPed DownMat 7...
Replies
9
Views
507
Andy in NH
Andy in NH
Back
Top Bottom