On the cusp

[alloway65]

How does one go about buying silver bullion?

When I talk about Silver Bullion....I mean buying silver at the current silver price!;)

If you buy "Bullion Silver" on BoB you will be paying nearly the double the current silver bullion price in some instances!

Unfortunately you can only get Gold ETF's in SA as well as a few other precious metals...not silver to my knowledge at this point in time!

If you check with coin dealers you might be able to buy scrap (crap) silver coins at nearly the bullion price.

I bought the bulk of my Bullion Silver in Switzerland...one can do this on one's share trading account.

Regards
David

[ndoa18]

Hi David

I believe that you will be hard pressed to buy a silver coin of any condition anywhere in ten years...

PS Perth Mint prices are close to bullion prices. (I have no association with the Perth Mint).

Kind regards


Scott Balson

[alloway65]

Hi Scott,
I did look at the Perth Mint offerings a few weeks ago to compare prices that a Bober was selling their silver bullion coins for...will check again now.
My son has just returned to Sydney...if the prices are good will send him funds to buy me some one kg silver "coins". He can keep them for me there...save courier and customs hassles.
Thanks
David

[rvswartz]

Hi Scott,
I did look at the Perth Mint offerings a few weeks ago to compare prices that a Bober was selling their silver bullion coins for...will check again now.
My son has just returned to Sydney...if the prices are good will send him funds to buy me some one kg silver "coins". He can keep them for me there...save courier and customs hassles.
Thanks
David

Try http://www.metcon.co.za/products.php

[alloway65]

Try MetCon Refinery - Buy Gold, Silver, Platinum and Diamonds

Thanks rvswartz, Very interesting....I will give them a try.
Best regards
David:D

[rvswartz]

No problem, David

I've bought a few of the 10grm gold bars and some 100grm silver bars.

Regards
Robert

[ndoa18]

Back in the 1980s etc.. the IMF and other major lenders to corrupt and uneducated third world sovereign states in Africa literally bled many of those countries dry - claiming all mining royalties and other taxes to cover their interest charges. The African population in these countries became impoverished as they had no social support, health system, education system etc.. - all the money was handed over to the greedy bankers.

Now the IMF and Eurozone are trying to garnish the population of Greece in a similar manner.

Let me tell you now... it ain't going to work!

The approx US$150 billion loan to Greece (with strings attached) is a non-starter. The people of Greece won't just lie down and be walked over like those in Africa. All the IMF and Eurozone have done is to increase Greece's long term debt as the Euro starts replicating the fate of the Zimbabwean currency. Next they will have to hand out financial support to Portugal, Italy and Spain - and Spain is a much bigger economy to prop us than Greece.

I can see Germany and others leaving the Eurozone to save their own currency; but it goes without saying that the Euro will soon become a basket case. This will signal the death throes of fiat money as the US$ collapses in value together with immoral derivatives and the greed based banking system in Wall Street.

The transition to a stable commodity based currency will surely follow - let's hope and pray the new financial system is
a) NOT a global IMF-type currency - concentrating money power in even fewer hands; and
b) controlled by sovereign governments and NOT private reserve banks and financial institutions.

Kind regards


Scott Balson

[MsPlod]

Unfortunately it seems as if the IMF will indeed be the selected "bale-out" method... As you state - "on the cusp". And thus topples the house of tissue paper that is Europe.

Back in the 1980s etc.. the IMF and other major lenders to corrupt and uneducated third world sovereign states in Africa literally bled many of those countries dry - claiming all mining royalties and other taxes to cover their interest charges. The African population in these countries became impoverished as they had no social support, health system, education system etc.. - all the money was handed over to the greedy bankers.

Now the IMF and Eurozone are trying to garnish the population of Greece in a similar manner.

Let me tell you now... it ain't going to work!

The approx US$150 billion loan to Greece (with strings attached) is a non-starter. The people of Greece won't just lie down and be walked over like those in Africa. All the IMF and Eurozone have done is to increase Greece's long term debt as the Euro starts replicating the fate of the Zimbabwean currency. Next they will have to hand out financial support to Portugal, Italy and Spain - and Spain is a much bigger economy to prop us than Greece.

I can see Germany and others leaving the Eurozone to save their own currency; but it goes without saying that the Euro will soon become a basket case. This will signal the death throes of fiat money as the US$ collapses in value together with immoral derivatives and the greed based banking system in Wall Street.

The transition to a stable commodity based currency will surely follow - let's hope and pray the new financial system is
a) NOT a global IMF-type currency - concentrating money power in even fewer hands; and
b) controlled by sovereign governments and NOT private reserve banks and financial institutions.

Kind regards


Scott Balson

[jwither]

For any one who is going to buy metals:

Take only physical delivery or store them in a SOLVENT reputable repository;

Do not buy paper equivalents;

For gold, I would buy mapleleafs, ASE and well know refiner bars such as Johnson Matthey. For gold I would bbuy AGE, MapleLeaf and KR. For palladium, I would buy MapleLeaf. For platinum, MapleElaf or the US coin.

[alloway65]

Hi Scott,
I checked the Perth Mint website again and you are correct they sell their bullion “coins” marginally above the respective bullion price!:)
However their buy and sell spread is horrendous should one store ones bullion purchases at the Perth Mint and sell through the Perth Mint.:(
Best regards
David

[BluePlanet]

Hi .. I do not normally check out the Forum , but came across this thread as I was posting a question about the new shipping details. Seems like some well read people here . Did not read the entire thread as a bit long and I need to use my finger to read . Scott , what are you ? An economist ? A professor ? A Gypsy ? .

People have been predicting calamities since the dawn of time and yes crisis's do occur from time to time given the excesses that Scot is bringing up here . However when exactly calamity will strike is difficult to say. You could withdraw from the market because of what really is a growing crisis only to find out that you missed out on the greatest bull run ever . So timing is very important and alas no one can get that right but me of course.

If you really want to know something with an exact date , the end of the world in fact .. Just ask me
Seriously

[Pierre_Henri]

If you really want to know something with an exact date , the end of the world in fact .. Just ask me Seriously

Seriously Brightsmile, when is the end of the world in fact?

So many people have died through cults that preach this nonsense, that I just want to make sure you are not another doomsday cultist...

[BluePlanet]

Hi Pierre

No I am not a doomsday cultist . In fact people have been predicting the end of the world since the dawn of time , but we are still here , so I am not really into that . I was just being flippant . In fact I hardly ever post here but came across Scots thread and thought ''very nice'' . Scott is clearly very well read and I respect that . I just thought I would add something not so bright . Oh and by the way the date for the end of the World is ......

Keep up the good work Scott . nice reading your views

[ndoa18]

A clear pointer to how precarious the fiat money system is is the flight to the US Dollar by investors over the last 24 hours. The "smart money" is getting out of the Euro, Aussie Dollar etc.. and pushing up the value of the US Dollar against the "basket of currencies". (That is how the relative "value" of currencies against each other works in the flawed fiat money system we use today).

I say the situation is precarious because the US Dollar has, in my view, passed the point of no return. The interest payments on the sheer volume of dollars out there cannot be supported by tax revenues. It can only be supported by printing billions more worthless dollars. In effect the US economy is broke - just like Greece - yet people are still "fleeing to the US Dollar" in these uncertain economic times. Reminds me of lemmings.

While in "US Dollar terms" gold and silver lost ground overnight in reality (here in Australia) gold is today actually trading at its highest historic value per kilo right now while silver is only marginally down from yesterday's year highs - despite "losing ninety US cents per ounce overnght". This inversion is because of the Aussie dollars fall in value against the US Dollar.

So nothing is always as it seems!

The collapse in the stock markets around the world since Monday is a clear signal that we are in for very rough times ahead. The perfect storm I talked about a few days ago now has new factors whipping up the seas of uncertainty. Central to all this is the collapse of the Euro as other nations like Spain and Portugal fall into the same position as Greece. Watch for growing civil unrest in Greece, looting and a growing global anger with banks - especially Goldman Sachs.

The collapsing stock markets around the world and the flight to the US Dollar are a direct result of panic. The "stagnation" of gold and silver is, in my view, a temporary and to be expected correction as speculators take their profits and cover other positions that they have lost money on.

As always this is my view - I don't see an end to the world, just an end to the financial world as we know it.

The timing? Who knows - depends how long the speculators try to cover up the fact that the "emperor (US Dollar) has no clothes". The flash light is on him now and it is only a matter of time before the flight to real value - gold and silver becomes a stampede.

PS Speculators make their money (vast amounts) from doing just that. That is why, if they could, they would speculate over the date and cause of death of their parents. Speculators are obsessed with keeping the facade that everything in the financial system is on track while manipulating the Monopoly money we today call currency. Like troops of old the speculators are at the vanguard of keeping up the perception that their empire is impenetrable. As you would probably have gathered by now - I disagree and believe the next "empire" to fall will be a financial one!

Kind regards

Scott Balson

[ndoa18]

Gold hit another Au$ high today - and probably ZAR as well.

Silver is, in my opinon, ready to be unleashed.

The global financial system is unravellling - currencies are trying to find a position when there is none; while speculators in Wall Street still ply their trade share prices are starting to collapse and the "natives" are getting angry .. look what happened in Greece overnight!

Sounds somewhat Biblical.. :-(

"Tomorrow" reminds me of the fate of the Zimbabwean retirement funds!

So sad.. as we stand on the cusp of another terrible deception by the money changers.

Consider this symbolism.. (excuse the abuse of the original lyrics).. the toe bone (Greece) is attached to the ankle bone.. the ankle bone is attached to the leg bone.. the leg bone is attached to the knee bone.. the knee bone is attached to the thigh bone... the thigh bone is attached to the pelvic bone.. the pelvic bone is attached to the spine bones.. the spine bone is attached to the skull (Wall Street)...

Scott Balson