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funwithguitars 4 points ago +4 / -0

Yes, I have heard about banks denying the purchase of silver, and banks holding cashiers checks and delaying payment for silver significantly...why?

KickingPugilist [S] 5 points ago +5 / -0

Banks sell pooled space in their vaults and sell you silver. They then sell that same silver in the same space to someone else. And someone else. Often 100x to even estimates of 1000x over and over because no one actually demands delivery of the silver. No one wants to store it at home so they think they own all this silver but that same silver is owned by countless people.

As people catch on and demand delivery, they have far less to resell until the mining companies can produce more.

You can wait weeks/months or get a cash settlement that is often delayed until they play their games and print derivatives to lower the spot price of the metal and they'll settle there so you get less because the "value" is low.

But the spot price isn't free market supply and demand.

In some cases they throttle supply to the bullion retail sector so when you want to buy coins and vars, the resellers and private mints don't have the supply needed so they raise their prices significantly higher than the "spot" price because retailers and private mints actually have to worry about supply and demand.

US mint halted minting for months to "update their machines" in the middle of the biggest silver craze in over a decade (that continues to grow. Last time was around 2011 after the 2008 economic crash)

They never expected to be singled out for a squeeze in such a decentralized manner of individual investors demanding physical silver and people with allocated silver in the bank vaults to demand actual delivery of the metal.

They have done the price tampering over and over to try to break morale but people just see the lowered prices as "shit, silver is on sale, buy more!"

If you go to http://www.reddit.com/r/wallstreetsilver they have a whole section of research, explanations, and tons of other good info.

Remember the last of the 90% silver quarters and dimes were minted in 1964 when US currency actually used to be made of the precious metal and replaced with zinc and other BS metals.

$10 face value of quarters or dimes from that era now sell for about 220 dollars and contains a bit over 7 ounces of silver in their composition.

The constitution explicitly states that all US money is to be of gold and silver. The dollar has lost an absurd amount of its purchasing power.

Things don't get more expensive...the dollar just gets weaker and that is the reality.

MrEvangelon1 2 points ago +2 / -0

Fractional reserve banking is one factor leading to the Depression in the US in the 1930s.

The difference now:

Every purchase not made with paper or coin is traceable. Even more traceable when people get the "save money" cards at stores.

OGTD1 1 point ago +1 / -0

I check once a week on the price of silver. Just saw it dipped enough that I would pick up another 20-30oz but they are all out at SB. If you find it sub 28 from a reputable dealer let me know.

KickingPugilist [S] 1 point ago +1 / -0

Not "reputable dealer" but certainly from reputable sellers on http://www.reddit.com/r/pmsforsale

MrEvangelon1 3 points ago +3 / -0

"Only credit cards" translated:

When people use cash (paper or coin) the government is unable to know who has the metal and, when the crash comes, the government is not able to confiscate actual assets to pay the extortion known as fractional reserve banking.

For a better comprehension of various reasons one should use cash (paper or coin) when purchasing silver, gold or copper, read "The creature from Jekyll Island".


Silver certificates are not silver. They are similar to treasury notes, meaning they are a promise to pay an amount of silver for the amount of IOUs one holds. The joke is that when everyone tries to exchange their IOUs at the same time, they will discover that person A was given the silver of person B (this goes infinite to the point of "run on the bank") and the makers of the silver certificates have been showing false accounts of the amounts of silver held in their vaults.

ribble 3 points ago +3 / -0

not to mention, use credit to buy, goy, so we can be paid interest.

MrEvangelon1 1 point ago +1 / -0

Yes. Goyim love those high interest credit cards.

Kekistan_United 1 point ago +1 / -0

hang in there my apes down-under...

they know you know; that you know they know you know, they know

Pbman 1 point ago +1 / -0

The govt knows who's house to raid.