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vox kadavergehorsamkeit
Member since May 2012
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has posted a comment on the article :
The Case for $136,604/oz physical silver
- Bix Weir -
With regard to point 6, silver pool and certificate programs, Weir made a number of errors. He mistook the Royal Bank of Canada for the Royal Canadian Mint. But that is no big deal. Far more consequential is that there is no evidence that i am aware of to indicate that the RCM, Perth Mint or Kitco use a fractional reserve metal storage system devised by Jon Nadler or anyone else. Indeed, with regard Kitco, given their recent legal problems, anyone who cares to can access the court documents and find detailed lists of both their assets and liabilities. Under assets you will find just how much silver Kitco holds for their clients as well as all of their other assets. There are no listings for large cash holdings or other items that they may be investing in, rather than just holding the metal as claimed. The model that they employ with their pool program (charging a premium whether you are buying or selling) works very well so long as the rather inept Peter Hug does not screw up their hedge book, as was the case with rodium when a large purchase was agreed to at price that is not likely to be seen again for many years....As for Nadler, he is neither anti gold or silver. He sees gold as a form of insurance and so recommends holding 5 to 10% of ones' portfolio in the precious metal. Such a view may exclude Nadler from membership in the ultra bullish camp, but it most certainly does not make him anti gold or silver. If Nadler were really anti gold as claimed by Weir, Brad Kitner, the founder and principal owner of Kitco, would have fired his ass long ago.
That being said, given Kitco's legal problems, i would not recommend them as a place to have a pool account in that it very much seems that should the Quebec revenue Agency win their case in court against Kitco, your pool holdings could very well go toward settling the $200+ million claim against them. When responding to a written querry on this subject, the monitor appointed by the court was deliberately misleading, stating only that it was Kitco's position that the pool accounts belonged to their clients, but never answering my question as to the position of the court.
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Beginning of the headline :
SOMETHING IS ABOUT TO BREAK IN THE SILVER MARKET. Where The Price of Silver Is Going and Why Nobody should under estimate the COILED SPRING EFFECT that underlies the silver price. 40 years of computer price suppression won't blow off smoothly! I will attempt to quantify the potential price movements in Silver based on my 20 reasons to SELL/BUY from this article: 20 Reasons to Sell (BUY!!) Physical Silver http://www...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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ferzi
- 20/04/2013 à 20:03 GMT
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