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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.
===========
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.
==========
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.
==========
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.
==========
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!
==========
A store has opened that is accepting silver as a form of payment!
http://www.agtradingpost.com/
==========
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
==========
Don't forget to register for the Phoenix show, while you still can!
ENTER PROMO CODE: SSR
=========
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.)
Sincerely,
Jason Hommel
www.find-your-local-coin-shop.com
www.silverstockreport.com
www.miningpedia.com
www.bibleprophesy.org
Read
all the other articles written by Jason Hommel
I have 2 major resources on mining stocks to offer to you.
First, look at www.miningpedia.com It is a FREE
comprehensive database of mining stocks. Anyone can update or enter
data, it's like wikipedia.com. Miningpedia has replaced the
"silver stock report" in that it is doing the legwork on individual
stock analysis that I used to do manually. This frees me up to do what
I like best, which is to write commentary. My commentary retains the
name, "Silver Stock Report", but for individual stocks, please see
miningpedia.com.
Second, I offer a
"look at my portfolio" for $50/month; where I share a peek at which
stocks I own, once a month. You can log in at any time, repeatedly, and
also see all my prior months
Please visit Silver Stock Report for specific stock
picks.
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