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Sooner or
later the COMEX will close their doors for one reason only - they will be
considered as only a paper exchange. I write this for those people who intend
to take delivery on their futures contracts. Don’t bank on receiving
actual silver for your contracts.
We have signs
that the supply of physical silver is drying up. Investors are buying 1000 oz
bars in quantity and the miners and smelters are cutting production. The two
US banks were successful to bring low prices on the COMEX by destroying the mining
industry, but you the physical investor will benefit from their actions.
I was reading
a study that said that twenty years from now, due to growing global demand,
we will need the equivalent of a new planet to supply us with the resources
we will need. Today silver is closer to a shortage situation than ever, only
the price doesn’t show it. If you have decided to invest in silver,
think big. 1000 oz of silver in the long run will buy you a two bedroom
apartment in Trump Towers.
My crystal
ball tells me that when the users panic, don’t be surprised that the
price of silver could double in a week, and we could reach $40 in less than
two months, and move quickly to $100, only because there is no silver
available.
Be careful,
those who have certificates from COMEX, don’t deliver your contracts
for paper futures contracts no matter how attractive the spreads become.
Don’t give real silver for paper obligations. It is not sure if your
paper contract will be worth more than the paper it is printed on. Learn that
one bird in the hand is worth more than ten birds on the tree. It is better
to have 1000 oz in your hand than 10,000 oz in paper futures contracts.
It’s
time to be very careful. These moderns gangsters are looking for ways to
trick you by discouraging you from buying silver or to swindle you out from
the silver you already own, by offering you many goodies like backwardation,
leasing your silver with high interest rates and many other tricks. The
organizations will offer you all the guarantees in the world for your silver,
but remember, they can’t do that legitimately because there is less and
less silver in the world.
Hold your
silver close to your heart and remember that the real gold is silver. When
the price of silver is equal to the price of gold, then think of profit
taking. If you don’t have silver, you won’t be able to take
profits.
Israel Friedman
www.investmentrarities.com
Israel Friedman is a friend and mentor to Theodore Butler.
He has followed silver for many decades.
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