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Silver Market Updates
(BIS DATA IGNORED, Our New Low Prices, our TV ad, Ron Paul, etc.)
Silver Stock Report
by Jason Hommel, December 21st, 2009
Once again, the BIS data on derivatives is totally ignored by all gold and silver market participants and commentators. Nobody mentioned this new BIS data update from my last newsletter.
The BIS data proves the huge extent of the fraud in the banking system, particularly in all forms of paper silver accounts.
The "other precious metals" derivatives notional value, which are mostly all silver, (but also tiny amounts of platinum and palladium) grew, over the last 6 months, from $96 billion to $203 billion, for an increase of $107 billion.
But the size of the silver market cannot be significantly larger than annual production, which stands at about 600 million ounces, x $17/oz. = $10 billion.
Simple question: How can the banks of the world, owe $107 billion more in brand new "mostly silver" derivatives positions over a 6 month time frame, given that world annual production stands at a mere $10 billion, without that silver being mostly all fraud?
http://www.bis.org/statistics/otcder/dt21c22a.pdf
Scroll to the last chart.
This "paper silver selling" is fraud, it is inflation, it is hyperinflation, it diverts investment demand away from real physical silver.
This paper silver selling suppresses real silver prices.
If you own such paper silver, you are acting to help suppress silver prices, and you are actively working against your own best interests, as you are directly lending to the very people who are short selling silver.
Many people ask me, "When will the short selling of silver end?" It will end when you, the collective "you" in the marketplace, stop giving them the silver to short sell!
I have had many conversations with people who own this kind of paper silver. They think their bank will not default on them. They have already defaulted. They just released the numbers which prove they cannot possibly have the silver.
If any commercial bank or brokerage house is storing your silver for you, it is likely NOT THERE, and is likely ALL FRAUD.
Furthermore, if you are letting any 3rd party hold your silver for you, it is likely the least safe place to store silver, as all silver held by other people is likely to be the first form of silver to be confiscated in any sort of national emergency.
They cannot confiscate what they cannot find, which is why you must put your silver into your own vault in your own property. Bolt down the vault from the inside, and consider building a cabinet of some sort around it, or carpet over it, or put up a wall over it.
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We have new, low prices for gold and silver. Please check them out at the top of www.silverstockreport.com, where we have moved our price board to be more visible.
Bullion price premiums over the bullion prices change frequently due to the following factors:
Customer popularity and changing market demand which affects our inventory, our supplier's inventory, our supplier's prices, our multiple suppliers's minimum volume transactions, market price volatility, shortages by the US Mint, shortages by the US mint's main suppliers of silver blanks, shortage of bars available to those coin blank manufacturers, etc.
Right now, there are two pricing anomalies (something unusual) to take advantage of.
First, ten ounce silver bars are cheaper than 100 oz. bars. I don't know why. It may be that there is a greater supply of 10 oz. bars than 100 oz. bars at the moment, due to new manufacturing. Usually, the ten ounce bars are more expensive than 100 oz. bars, and also, usually more expensive than 1 oz. rounds! So ten ounce bars are a great deal today.
Second, Gold American Eagles are the same price as Kruggerands, Maples, and Philharmonics, while they are usually the most expensive. Right now, there are recurring shortages of Krugs and Philharmonics, too, while the recent shortage of Eagles appears to have ended. So the Gold American Eagles are a great deal today.
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Some people ask us on the phone why they should buy from us, and not other mints or bullion dealers with lower prices such as NorthWest Territorial Mint or MONEX.
Good question.
Research our competitors.
Go to Google. Type in "NorthWest Territorial Mint fraud". Type in "monex fraud". Type in "kitco fraud". "goldline fraud" Etc.
Then type in "jason hommel fraud", or "jhmint fraud" or "silverstockreport fraud". Discover the difference.
Know your bullion dealer! When deciding to take delivery, you might as well research the chances that you will actually receive delivery!
We started bullion dealing in part because we got disgusted seeing so many of our readers being defrauded by 6 month delivery delays, or 50% price premiums!
Why is fraud so rampant in the bullion dealing community? I think it's because when you order bullion, you are like an unsecured creditor. Many other dealers abuse this, and use you like a free credit card application in the mail. We don't.
We are capitalists. We have capital. We use our own capital. We don't need to float on your money. When you order from us, we ship you our bullion immediately, and we float on our own capital. We put out our own capital at risk by ordering in bulk from our wholesale suppliers. We have a portion of "our" silver and gold "in the mail" at nearly all times. We take the risk, we take the time, we have our capital in cash for a few days before placing re-orders in bulk.
We take our business seriously, we take your money seriously.
If you are ever in doubt about the integrity of your bullion dealer, place smaller orders over time. Let your dealer prove themselves. Let us prove how fast we can deliver. Discover the difference.
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Next, we have a new TV commercial to be shown in our local area in Grass Valley & Auburn, California on Comcast Cable. It's at the top right of http://jhmint.com/
It's not big budget, and it's not a national commercial, but I think it has a good impact. Please tell me what you think.
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Statement of Congressman Ron Paul
United States House of Representatives
Statement Introducing the Free Competition in Currency Act -- December 9, 2009
http://www.house.gov/apps/list/speech/tx14_paul/compcurr.shtml
GO RON PAUL!
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A store has opened that is accepting silver as a form of payment!
http://www.agtradingpost.com/
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Here is a great report by a man in China about how difficult it is to find gold and silver for sale in China. It's available, but hard to find.
http://www.forexpeacearmy.com/forex-forum/forex-articles/7828-buying-silver-gold-china.html
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Don't forget to register for the Phoenix show, while you still can!
ENTER PROMO CODE: SSR
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I strongly advise you to get real gold and silver, at anywhere near today's prices, while you still can.
Price Board:
http://jhmint.com/cgi-bin/ssrbidask
Our Coin Shops are open 10AM to 5PM Pacific, Monday to Friday
100 oz. silver minimum, USA shipping, wire transfer only!
Janelle (530) 913 0553 silver_support1@vzw.blackberry.net
JH MINT & Coin Shop, Grass Valley, CA
(530) 273-8175
http://www.jhmint.com/
Rocklin Coin Shop, CA, 15 min north of Sacramento
http://rocklincoinshop.com/
Or visit www.momsilvershop.com
(Mom will ship in lots of more or less than 100 ounces of silver, and overseas, and take credit cards or pay pal.)
Jason Hommel
In case you miss an email, check the archives:
http://silverstockreport.com/
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