|
I get so much
mail from readers, and this batch was particularly insightful, and I thought
I'd share these with you, since many people are finding a sense of community
in hearing other people's stories of the silver shortage. For the sake
of the protection and annonymity of my
readers, most names are reduced to a single letter. All of these
letters are in response to my last article, titled, "Silver Shortage Drives Men Nuts". The
range of responses was amazing, and I also wanted to post this to let people
know that when you start telling the truth, some people will love it, and
others will hate it. (But more tend to love it.)
Some of my answers are short, brisk, and a snappy retort, but that's because
my time is extremely short, and I still have not answered all email.
==========
Jason,
you are really
passionate about your believe in the silver shortage. For whatever
reason the silver price wants to go down at present. Of course I don`t but maybe the current silver shortage has
already been factored into the recent peak of USD 21. The situation is
indeed bizarre!
Rgds
A
==========
It looks like
every one read my saying "If you
don't hold it, you don't own it"...Ponce
Only physical PM
is safe in what is to come..........
Jason Responds: Yes, Ponce, I got that from
you. Thank you!
==========
RE:
Jon Nadler is a blathering fool, and not even a tinfoil hat
could help him tune out kitco's bearish bias and
overpriced silver, and tune into reality.
You noticed his
rant to day, too, huh? He says WE have the tin foil hats.
"Something's happenin' here, what it is, ain't
exactly clear...." _ Buffalo
Springfield
-P
==========
Proposal.......
The Jon Nadler
Memorial Buy 20 Ounces
of Silver a Week Program
Participants
must encourage 3 of their friends who are not subscribers to Silver Stock
Report to do likewise
Essentially Jason I am
recommending that you have revolving buying campaigns for your readers to
participate in giving them the satisfaction that the weekly purchase of bars
is in the name of the latest silver basher LOLOLOL
8-)
==========
Wow you really know how to stir up a hornet's nest.
I am taking delivery of gold from Perth Mint, they
are pretty slow in responding due to all the inquiries they are
getting. We'll see how long it takes them,
I'll keep you updated as it progresses.
Keep yourself out of trouble, the last thing anyone
wants is for you to get stuck in a legal battle. They have lots of
lawyers, after all.
M
==========
Hi Jason,
Until I began reading your report I didn't really appreciate how much my
husband's Safety Awards from Sunshine Mining and Refining could contribute to
our retirement fund. We have 12 pounds of silver in the form of 1 ounce rounds, each
given out for safety. Given the silver shortage you report, silver
should surely increase beyond current projections.
Speaking of silver prices, I would be delighted to relate a story to you
about the incredibly tight money market for silver mining juniors. I
work with a silver junior with outstanding formerly producing mines that are
on patented ground. No permitting issues, no EPA issues. The company
needs to raise money to undertake exploration on 1000 acres of land, in
order to identify how much silver is in the ground -- there is no doubt it is
there the only issue is how much. Money for exploration has completely
dried up, even on grounds that have older resource reports. The company
I work with wishes to define the amount and best locations in an historic
district which has been profitable in the past when the ratio of silver to labor prices was less favorable.
I have been told repeatedly that there is no funding available for
exploration.
The company could be into significant production in 2 - 3 years. Given
the current silver shortage, the past production from the property, the
enthusiastic endorsement of geologists who last looked at the property, the
enthusiasm of current geologist knowledgeable about the property and older
resource analyses showing significant ounces in the ground, why is it
impossible to find funding for exploration? And, in the end, what is
the strategic implication for North America
if companies holding promising properties are unable to explore them?
L
Jason Responds: When the junior
market starts to move up, money will pour into the sector. This could
happen very soon, maybe within 6 months.
==========
Personally I think that we are up to about round 3 of a very interesting and
even bout at this stage.
I am delighted that this debate has taken on such a wide audience. P
==========
Hi Jason, i have also heard that thailand
has silver can i but it there... how do i know they pure silver,Tks s
Jason Responds: Sivler purity can be detected in several ways. Does
it ring? Does it weigh slightly heavy? If it were easier to counterfiet coins, then U.S. coinage dated 1965 and later
would look a lot like silver, but you can see the copper in the middle,
and they weigh lighter, and ring different.
==========
Hi Jason
I
want to thank you for your outstanding emails relating to the silver trade. I
find it to be a platform where one learns about the intricate dealings of major
silver houses and where such dealings can be brought to light, also your
articles are very informative.
As an amateur
collector of silver coins (panda’s & maples) your articles helps me
to enjoy this hobby with enthusiasm, I am even contemplating to invest in
silver more aggressively. Thanks for all the effort you place into your
writings.
Kind
regards.
D
Jason Responds: Thank
you, God bless you!
==========
Dear Jason,
I am just a small swiss private investor, ( and a
mother trying to foresee the mess my swiss/american
children are going to find themlseves in, in their
retirement age), who tried to buy a fair amount of silver last week on www.goldmoney.com and I am
confirming to you and your readers that I had to wait several days before the
transaction could take place due to shortage. The silver had to be eventually
shipped from their London
vault to their vault in Zürich.
The staff on Mr. Turk's
website was very polite and apologetic, I hasten to add and they did block
the buying price to the day of my purchase.
So I am confirming your
position.
The reason I am buying
online for the moment, against your rightful advice is that I still have not come up with a solution yet of
where to store it, except to buy a very large safe specially made for
holding precious metals, doublebolt it in my very
accessible cellar in my apartment building and not say anything to my
children, aging parents, neighbours or insurance company. The fewer people
know about it , the better.
My question is: how do you
eventually sell it? Do you have to carry the stuff one by one into your car
and go with it the bank or a dealer?
Please excuse my ignorance!
I thank God for your
newsletter which is very accessible and easy to understand for individuals
like me swimming in the dark.
Very gratefully yours,
S
Jason Responds: Thank
you, God bless you! To sell silver, yes, you
can take it to a local dealer. I expect I'd have to drive mine to one
of the largest refineries or dealers in the nation if I sold it all. But
I don't expect that I'd ever need to sell it all at once; I didn't accumulate
it that way, and I don't expect silver to "spike", but rather,
slowly grind ever higher as nations begin to use silver as money again.
==========
Hi Jason, I really enjoy your news letters on silver,
and find your concepts for the most part easy to
comprehend. I must confess that I am a "man on the
street" investor, with slightly less than 200 oz troy
in American pre 1965 silver halves. I have Kennedy,
Franklin, and walker halves. Does any type have any
advantage over the others? When asked my opinion on
what the metals market will do, I say that I have 2
balls, and neither one is crystal, so I don`t know. Do
you have any idea when the market will go back up to
say, $21.30 oz., so I can make a profit on my
investment if I so choose? Yes, I`m a Tiny investor,
but there are a lot of us. Please respond.
Thanks..........Silver Half.
Jason Responds: The
Kennedy, Franklin, and Walkers sell for the same price. Walkers,
older, are usually a bit beat up, with slighly
less silver.
I think the market will turn back up
quite fast, given the increased investor demand leading to the shortage,
which means refiners are getting less or no silver sold to them by the coin
shops. This, I think, is why few people can say when they will have
silver next, since their "source" is the public, not another
business.
==========
Hi Jason,
Well done. Keep up the
pressure on this situation, as I'm thinking we might just be at the edge of
the long awaited silver rocket. Please keep updates coming regularly and the
increased scrutiny and investment demand may help finally lift the lid on all
the crooks.
Cheers
D
PS Saying openly you have
6t of silver in safes, may be tempting for some,
like knowing somewhere has a few million in cash. A bit harder to carry away
but for that sort of money worth planning for. Be wise, pray for wisdom on
how to make it as safe as humanly possible and then pray for angelic
protection also!
Jason Responds: Yes, but if they
don't know where it is, how can they get it? Besides, we have many
millionaires, even billionaires in America, from Buffett
to Gates. Further, few thieves read investment newsletters, and if they
do, they try to get your money by pushing scam investment companies on
you. I know nothing is 100% safe, everything has a risk, but you have
to be able to weight the risks vs. the reward for everything. Risk of
theft out of hidden and guarded safes is very low.
==========
ONE POINT: SUB-PRIME DEBT CAN NEVER BE AAA RATED..THE CLUE IS IN THE NAME "SUB-PRIME"..IT IS BY DEFINITION BELOW INVESTMENT GRADE
PAPER...I.E.JUNK STATUS!!! I THINK YOU HAVE TO BE A LITTLE MORE CAREFUL WITH
YOUR TERMINOLOGY, CONSIDERING HOW WIDELY YOUR LETTER IS DISTRIBUTED!....ALWAYS AN INTERESTING READ THOUGH.....ALSO SMALL
POINT ..NADLER IMPLIED YOU WERE NOT TELLING THE TRUTH BUT YOU INFERRED THAT
THAT WAS WHAT HE MEANT,NOT THE OTHER WAY
ROUND!..REGARDS..KARL
Jason Responds: But Sub-prime debt WAS
re-packaged as AAA rated. Thanks for the lesson on implied vs.
inferred.
==========
WOULD YOU PLEASE NOT SEND ME THIS ANY MORE ??
The price of SILVER is down under 17 tonite, and
you keep quoting
Scripture about any thing....like people should read their Bibles
??
What about you ?? Jesus said sell ALL YOU HAVE and
give to
the poor, and YET I DOUBT you would ever CONSIDER doing that
with your Silver would you ??
Tell me the truth............im not stupid
Stephen HILO HAWAII USA
Jason Responds:
You
have successfully unsubscribed
Thank you - We
have received your unsubscribe request and have removed your email from our
list.
To answer your question: I
would think you could see that I am giving all that I have to help people
like yourself.
If you can't see that, perhaps you are
blind.
In the law, those who made money
dishonestly, had to give it all away, the money itself was considered
tainted. I believe that was the case with the man in question, since he
proclaimed himself fully righteous, which is the tell-tale sign of a sinner.
On the other hand, the Bible is clear
that we are to be fruitful and multiply. One way to do that, I
sincerely believe, is to invest in silver, since it is honest wealth, rare,
and the antidote to the fraud of paper money, which the bible never supports,
and as you should know, all frauds end.
==========
Jason,
I'm disappointed to see a continuation of interminable accusations and no
proof, and now name calling.
You've had your 5 minutes of fame. Now its time for some proof. Unsubstantiated
accusations don't go down too well in the Australian business context. In
fact they can get you into big trouble when a company can prove that someone
has depressed or diverted business through rumour in inuendo.
Of course you are making your accusations from America, where you are
safe. This reflects no great honour upon you.
I know you're not in the mood to listen, but I hope you are big enough to
apologise when the time comes, unlike Ted Butler who decided never to mention
Perth Mint again, when he was called on his baseless accusations.
Cheers,
K
Jason Responds: I have proven time
and again that I'm capable of apologizing, so you ought to be big enough to
apologize to me right now, right?
Furthermore, I don't have
"unsubstantiated accusations", I have
email reports from real people, that's called substantiated claims.
Furthermore, I'm not making any
accusations, I'm reporting, opining, and asking. It's what journalists
are supposed to do, report. What about that do you not understand?
K Responded: Perhaps you have apologized in the past, but of course the
damage has been done. What would I be apologizing about ?
I merely hope
that you will be big enough to do so in the future. Email reports are
not worth the paper they're written on. While they might be written by
real people, it is not unknown that people contrive and concoct emails to
feed to people with strongly held views. They are certainly not
by any stretch of the imagination substantiated claims. I think the
name calling was pretty accusative, and some of the inuendo.
Journalists usually try to look at both sides of a story - have you asked any
of the following for comment : Perth Mint,
Department of Consumer and Employment Protection, Australian Securities and
Investment Commission ? Journalists look for balance not
necessarily because of some high motive, but for self protection for both
legal and reputational reasons. It is your
neck however, and you can stick it out as far as you like.
Cheers.
Jason Responded again: While that
may be the case [that people contrive and concoct emails]; that is not the
case with Perth
Mint now. There are too many people telling me the same thing, and
nobody telling me anything to the contrary.
==========
Hi mate,
I'm an aussie working in the equities business for
a large global bank, and have recently stumbled upon your website whilst
researching the silver market. Just wanted to write and say congrats and keep
it up for getting this story out there. I couldnt
agree more that silver is on the cusp of a mega bull run, this thing has at
least 7 years left in it... and who knows how high it could go. I find it
hard to believe how much press coverage silver does not get, i suppose its like everything else... no one even knew
what uranium was until its price hit $100 and every global bank, website, and
newspaper in the world started talking about it as if they were all uranium
experts from way back. I suppose this will happen with silver also when it
hits $100 and the world realises there is not even enough of the stuff
left for Dell and microsoft to keep
manufacturing computers
I have recently been trying to source as much silver as i
can get my hands on, most bullion dealers here in Australia have at least a 3
week wait on small quantity bullion (eg below 5K
bars) and are now charging ~5% spreads either side. They claim this wait is
not cause they dont have the silver, but cause they
cant produce the bullion fast enough. In and case
waiting to get 1Kg of silver from the biggest bullion dealer in the state is
telling me only one thing. People are also paying 10-20% over spot for silver
bullion on ebay, and the amount of demand for
sterling silver products and coins has quite frankly amazed me. There are
clearly people out there who are onto this silver thing as well.
The other interesting thing of note to me is the shortage of silver mining
companies. Australia
happens to be one of the largets holders of almost
all kinds of mineral deposits in the world. We have recenty
seen booms (or bubbles if you like) in uranium, copper, iron ore etc.... and
each time there have been tens to hundreds of companies and juniors popping
up claiming they have large and viable deposits. Some of these things have gone
up thousnads of percent. I then go and look at
silver companies, and there are few, if any, that exist here at all. Silver
is not a common element like iron or uranium, so it is very unlikely that
there will be a rush of small silver companies to market any time soon. We
have coeur de'alaine
which is not even Australian based, and Macmin
Silver (MMN.ASX) a junior which is hitting rolling year lows. Every other
silver producer is simply mining as a small and insignificant by product of
other mines. Companies like RIO and BHP have been ramping up iron ore
production as fast as they can, and BHP and ERA are ramping up uranium
output.... but as you keep saying, once silver takes off.... its not as if
these majors are going to go and spend billions of dollars ramping up zinc
and lead mines to produce an additional 2% silver as a by product. This has
led me to believe that silver is completely unique and unlike any other
widely traded commodity on earth.
It amazes me that these people come out and say theres
an abundance of silver out there.... when a simple every day Aussie like
myself can't even get his hands on a few Kg's at $17 an ounce. So what if
silver pulls back from $20 to $15, critics of the silver bull start talking
about this being the end of the world cause silver pulls back 25% and you
would be crazy to invest... i cannot understand
these people. i think in
the short term silver may pull back and i certainly
hope so,
so i can start buying some cheap.
So cheers for the emails mate, keep them coming.... it is mind boggling to
think where silver could go when the world starts producing base load solar
energy farms and replaces the worlds long distance power cables with
superconductive cables full of silver.
All the best.
Jason Responds: Thanks for your report
and support.
==========
Dear
Jason....Each day I look forward to your email and that is because I feel not
only do I learn about silver but that you share the word of our Lord with me
and I feel that I am also walking the way our Lord would want me to
walk. Thank you for talking about rebuking that which is not in the
Light of our Lord. Deep faith is necessary to do what is right in
action and deed and also to guide others away from the darkness and to stay
within the light. Thank you so much for sharing the Lord.s
word with us and I am very glad that I have your website.
Without your heart many of us would be led to slaughter unknowingly and Jason
I am making copies of your work and sharing them. One young woman who
recently read your work and had lost her babies after caring for them in her
womb was sad and she read your articles and compound interest and she
said...Yes Jason is very good and wants to read always about your work which
I share with her. She helps mom and I on
Saturdays and my mom enjoys her so very much and mom sings when she is
here. Maria knows of loss and she believes when the Lord wants her to
have her children they will come. Maria and her husband work hard and
soon will lose their home which has fallen way down from what they paid and
the payments alone are so very high three thousand a month and because she
was working so hard she lost her children and knows now that to have her
family is most important and the opportunity to have a home will happen again
some day. Your articles give her courage and they give me courage as
money helps but our Lords word is what is important and is the center and everything that comes to our lives is from Our
Lord. Thank you for your courage about Perth Mint, and other
unscrupulous companies who take hard earned money and give back nothing which
is backed only by false paper. May Our Lord continue to bless you. Sincerely, Christina
Jason Responds: Your letter almost
made me break down in tears. It is the most supportive letter I have
received in months. It's letters like these
that can keep me writing for years, even if the entire world was arrayed
against me. I've written about the difficult times that people like
your friend Maria is suffering as a result of our fiat money system, and is
one reason why I work as hard as I do. But to hear your
first hand report is very encouraging to me, thank you.
==========
Great article as
usual.
Regards
K
Jason Responds: Thanks!
==========
Greetings, Jason-
The following may be of some value to your readers who have very
limited budgets but still would like to get their hands on SOME
silver-
For what it's worth, there APPEARS to be enough circulated US coinage
currently available [in small lots of ~$4- face up to about 15# [yes,
there are quite a few multiple-pound lots currently for sale] on eBay
that the prices I've observed this past week have been between 11.1
and 14 times face value, [with the usual premiums being paid for coins
with numismatic value.]
I'm cheap-I so far haven't paid over 12.7x face, including factoring
in shipping and insurance...this while spot has varied from $21- down
to the low 17's. Dimes are the cheapest, then quarters. 90% halves
seem to be selling at a small premium over spot, as are both Peace and
Morgan dollars-the 40$ Kennedys are selling at a greater discount than
dimes-see below
Prices being paid for silver eagles have been from $19- to over $30-
in lots of ~1-10 coins, 1oz .999 rounds seem to be running right at
$20/oz and Sterling silver Franklin Mint-type "art" ingots in various
sizes from a few pennyweights up to maybe 12 troy ounces have been
selling for right around $20-24/troy oz [when converted to .999 silver
content.]
I'm pretty well convinced that a significant number of people I see
bidding on these things are completely unaware of both the copper
content in sterling and the difference between troy and
avoirdupois...and the significant cost of shipping and insurance when
buying art ingots singly can easily push the delivered cost per oz. of
.999 fine silver to well over $30!
For us poor, small investors this may be the only game in town at
the moment since APMEX suspended their sales in quantities as small as
$1.00 face value and the few local coin shops here in NW Montana are
either sold out or wanting a 20% [!] premium over spot for 90%
coinage.
What are your thoughts on the desirability of 40% silver coins? At
silver spot of $20, a 40% Kennedy is worth $2.96, while a 40% Ike is
$6.32, according to the online calculator found at:
http://silverrecyclers.com/Calculators/coin_calculator.aspx
I've purchased Kennedy rolls at prices equating to $15.30-$17/oz of
.999 content this past week-can't figure out why they are selling at
such a discount to melt value-
You preach spreading your buying among multiple sellers-I'm DEFINITELY
doing that! So far, every transaction has been perfect, no shortages,
no switches, no losses-
Love your work and style, Brother-God bless-and keep fighting the good fight!
Jason Responds: The 40% is
heavier and bulkier, of course, so I don't prefer it. Also, smelting
costs for it will be higher than 90%, so it should sell at a slight discount.
Keep up the good purchases!
==========
Wow, this is getting fun, Great Job!!
==========
Hi, Jason.
Nice article once again.
==========
Jason,
I read your emails with avid interest and decided to visit the mint in Perth
last Friday. Tried to purchase both 100 once and kilo bullion over the
counter - no such luck 6-8 weeks I was told and we only have kilo coins in
stock. I left disappointed and later went back and being served by another
person enquired about 20 ounce and 10 once bars - yes we may have some. I
observed her go to the drawer to reveal one bar she then went out the back
and returned almost immediately with as many as she and another woman could
carry in both sizes!! No silver?? All a little amusing and confusing!
N
Jason Responds:
Thanks for the report!
==========
Thank you so much for the update .and Q&A I may have
not seen an artical on Silver .that is stamped S13 have a cross that has this on
appears solid silver ? what % silver is it any
Idea Thanks Gene
Jason Responds: That's not my
specialty. Try google.com or try a jeweler or
book on the kind of "article" it may be, such as flatware, etc.
==========
Jason,
You
are doing a great service to all by helping to expose the shortage of real,
deliverable silver vs. the amount of sworn promises that oceans of silver are
available for delivery at some distant future date. Same deal on the CRIMEX
Whoops!, I mean COMEX, where they have plenty of window dressing but make it
so very difficult for anyone to take any of it home. Same deal with
SLV, as I myself wrote about last year:
So it seems that
the SLV Investor(1) owns the iShares(2), which are
issued by the Trust (Bank of New York)(3), which hires a Custodian (JPM Chase
Bank)(4), which can have any number of Sub-Custodians, Agents or
Depositories(5), where the silver(6) might be held. Compare this schematic
with the true silver owner(1), who owns and controls
his own silver(2).
JP Morgan Chase,
as I'm sure we all know, was implicated in the Enron accounting fraud, the
Blanchard/Barrick lawsuit, and many other
high-finance scams too numerous to recount. I guess that makes them a perfect
choice for this assignment.
You might have
innocently thought that all this 100+ million ounces of silver is sitting
quietly in one place in a New York
vault. Maybe it is.
But, if there
should ever be an audit, JPMC has TEN DAYS to round up enough silver to
satisfy the auditors. Even then they don't actually have to have it on hand for
inspection by the auditors, or anything as tedious as that. This is the 21st
Century! All they have to do is to say it is located at one of those Sub
Custodians and it would be too much trouble and expense to move it.
This is just
custom-made to allow real silver to do double and triple duty. If the auditor
wants to get snotty and insist on seeing all the silver assembled in one place, JPMC
has to be assured of payment by "somebody" for the trouble and
expense of doing so.
Never
Happen.
Just Say No to the Silver ETF
(Rube Goldberg Strikes Again)
So in the
end, it boils down to this: there is plenty of silver for everyone, as long
as everybody will just leave it where it is and not insist on taking it home
with them. It’s called fractional reserve banking.
Jason Responds: Perfect summary of
why to not trust the ETF, or anyone else to hold your silver for you. Thank
you. Yes, with all those middle men in between you and your silver in
the ETF, it's astounding. The other bad thing about the ETF is that
your holdings and gains are reportable, and taxable at the
"collectable" rate for silver, which I hear is 28%. In
contrast, when you buy and sell silver to a coin shop, it's not reportable,
and it's up to you to voluntarily report and pay capital gains if you
owe them.
==========
Hi Jason,
In reading your latest
email, I feel I should share my dealings in buying silver.
I first bought silver, at
the advice of a friend who has read your's and many
other articles for a few years dealing with silver and gold.
The first silver I bought
was in 1kg bars from AGR Matthey's in the there Perth city office, in
the first week of March 08. Very nice, very helpful people and the silver was to be held for my collection within a month (free of
charge).
I rang again just over a
week later to buy more and was informed that the Perth City office was
closing down and I needed to contact there Newburn
(also in Perth) office if I want to but more silver. I must clearly
state that AGR Matthey did in fact have my silver
and did forward it on to me within 2 days after I found this out. I did find
it somewhat puzzling as to why they would be closing there Perth city office(rent
must be to high). I was informed by the Newburn
office that they didn't sell silver bullion and to contact there Melbourne office.
I then contacted another
bullion company here in Australia
and was told they were out of stock and wouldn't have any most proberly until early May.
Then I rang AGR Matthey in Melbourne and
was told they didn't have any silver bullion to sell and if I wanted to
buy some to contact the Perth
mint
.
When I rang the Perth mint in very late
March and asked if they had $A10,000 to sell me
there and then if I walked in off the street, was told after a few seconds
(checking stock levels) that they did "If I didn't want
specific sizes" they would have it for me.
I did buy a few 100oz bar
(maybe rather foolishly) for my collection in a "few weeks".
The friend I spoke about
earlier has had his own problems with his silver allocation with the Perth mint that has
already made your emails Jason.
I have wondered if they(Perth
mint) do have the silver there that they should have and if so,
why they so slow to be able to produce it in to collectable form.
My experience and thoughts
B
Jason Responds: Thanks for the
report, yes, why should Perth
be so slow, is the million dollar question these days.
==========
An interesting comment on today's newsletter.
I called a coin shop I have bought from before and asked if they could sell
me 12 100oz bars. They said no problem, they
could have them by the time my check cleared. I then asked about any
shortage they have seen and they told be that they were having trouble
getting hold of 1oz rounds and 10oz bars, but most of their customers were
not looking for 100oz bars.
Just thought the information may be of interest to you.
S
Jason Responds: Thanks!
==========
No silver shortage except in your satanic little mind. How much do you
want? The check has been received! GOODBYE! JESUS LOVES
YOU!
Jason Responds: This crazy guy has
been pestering me for a while and does not knoww
how to communicate in response to my inquiries; he refuses to provide
substantial information in a professional manner. I unsubscribed him.
==========
Dear Jason, I don't about others and the 13 ounces, but I can
say since you said to buy it I bought 600 ounces which is
still small compared to what someone with more funds could buy, but I still
got on the train and awaiting the ride! Now all the coin shops in my
area have little if any silver cause I call them
weekly to verify.
L South Bend, IN
Jason Responds: Thanks.
==========
Dear Jason,
Thank you for
your enlightening emails. I only wish I hadn't lost so much money in cftn that I could afford to sell what remains but the comission charges would eat up quite a bit. Still I
wait and hope for a rebound to the $1.10 buyin
price I had. Hope springs eternal as they say...
If you could
answer this question for me I would appreciate it as I find everyone who
knows cftn stock seems to lie to me over and over
for the last six years. Do you believe they really have one billion
ounces of silver or was that hogwash as well? This
IMM company they say that they have contracted with looks as fishy and
unprofessional as can be when I pull up their website. Thank you in
advance for any help you can offer as to if cftn is
a scam or the next thing to it. They just have lied so much and they
seem to be living the life of Reilly whereas I pray they get a concience for those investors like me who fell for every
word they and their promoters pumped out.
Enjoy your day,
S
Jason Responds: Clifton Mining does seem to act like a scam
company. I don't think they are one, though. Their Colloidal
silver solution works, and I take it. Clifton, I think, is doing the
right thing by not trying to spend money to get up to producing silver
now. Why produce silver when silver is too cheap? Their investor
relations could be better, but "professional" IR and promotion
costs money, too. I still hold some stock.
==========
I still cant get how with this massive shortage we
are getting hammered lately.
Its doesnt add up unless there is no real shortage
Jason Responds: The price is set
primarily by the paper exchanges, not by the meek public who can't find
any to buy. The price is set by actual buyers who are willing to pay up
to get silver. Last week, the price dropped when leveraged holders of
futures contracts sold 1/5th of their positions. The coin shops were
running out of silver at the peak, at $20/oz., not after the price drop, so
it's particularly frusterating to see. However,
this bodes well for a quick rebound in the price. Take advantage of it,
and get silver now below $20 while you still can.
==========
Jason
I don't get it.
Silver keeps crashing as you continue to elaborate on the silver
shortage. Since I became a subscriber about a month ago, I've invested
10K in silver and gold and have seen the value of my investment now drop
25%. You say then this is a good time to buy but my investment cash
isn't a bottomless pit. Also, my coin shop has plenty of silver on
demand, any way I want it. (Coin Gallery, Phoenix AZ).
I would rather have seen
silver go from $21 to $25 instead of going to $17. And I think that
silver isn't going to trade above $20 for a long time. The U.S.
government industrial complex isn't going to allow the paper dollar to
collapse. The spin in the media is putting fear into the public about
investing in precious metals. It's going to take another decade for the
price of silver to double. Probably longer if John McCain is in the
White House for 8 years.
RM
Jason Responds: If the government is
"all powerful" and won't let silver rise, then why did gold move
from $20 to $35 in the depression in the 30's? And why did gold move
from $35 to $850 from 1970 to 1980? The government has little to do
with silver, and ran out of any to sell quite a few years ago.
==========
Hi Jason,
I don't doubt that silver
is in short supply; but you convinced me of that 3 emails ago.
I'm putting a request in
for you to comment on
why you think the price of silver is
going down (in a future news letter). I'm happy that
the price is going down because I know it's going back up. If you are
able to determine what is causing the silver pice
to go down we would all like to hear what you have to say.
Thanks,
Jacob
"No one is as hopelessly enslaved as the person who thinks he is
free." Goethe
"Government big enough to supply everything you need is big enough to
take everything you have. The course of history shows that as a government
grows, LIBERTY
decreases." Thomas Jefferson
Benjamin Franklin: "It is the first responsibility of every citizen to
question authority."
Thomas Jefferson: "I sincerely believe...that banking establishments are
more dangerous than standing armies."
Paul Volcker, former Chairman of the Federal
Reserve System ( privately owned banking
establishment): "The standard of living of the average American has to
decline. I don't think you can escape that."
Jason Responds: I actually
commented on why silver was down in my last email, to which you
responded. Here it is again:
This weekend,
the Silver COT's came out, and showed that it was
the spec longs that sold 1/5th of their positions, and Commercial shorts
covered less than 1/10th of their positions, which explains the major price
dip from $20/oz starting on Wednesday, March 19th.
http://www.cftc.gov/dea/options/deacmxsof.htm
It was thought
by Howard Ruff that this was related to margin increases, and "deleveraging" of positions.
http://www.cyrusfirst.com/guests/rufftimes3/
==========
Jason,
The fall in the price of
silver over the last several days indicates that there have been more sellers
than buyers of paper silver. I believe lots of industrial silver
supply/demand is essentially price inelastic. I have verified that some
industrial users do sell their silver when prices run up and buy it back when
prices dip. Regarding small investor physical silver in the form of 90% coins
and 10 or 100 oz
bars, my own research, which included talking with numerous coin dealers and
a refiner in Pennsylvania, indicates
plenty of current availability if a person is willing to pay up.
Also, you picked a
misleading analogy about sea water vs drinking
water that makes me further question the validity of your concept of a
current shortage. You can't drink sea water unless you have a distillation
facility such as a very expensive desalination plant that takes years and 10s
of millions of $ to build and to connect with an existing water distribution
network. However, if a silver refiner feels there is a shortage of a
particular form of silver and a corresponding demand, such as in 10 or 100 oz bar forms, they can
turn scrap silver into those bars and sell them to dealers over the course of
several weeks to 3-4 months. In other words, there is no shortage of silver.
Will dealers be willing to buy them at this price? What appears to be a
shortage is just a temporary problem in instantly getting the silver you want
in the form you want and at the price you want. A
shortage in finding old Englehard poured 10 oz bars, which are no
longer freshly minted, is not the same as a shortage in 10 oz bars that can be
fabricated next month if the refiners and fabricators are willing to make new
10 oz
bars. There may very well be a shortage of silver later this year or several
years from now which will cause the price to run up into the $30, $40, or
even $50+ range. But such a price run up will not happen because several
thousand or even 25,000 1000
oz bars are melted and fabricated into 10 oz bars or 100 oz bars to meet
perceived new investment demand. New investment demand that causes a
collective equivalent of what the Hunt Brothers attempted 28 years ago will
have to be many, many times larger than what you and other bloggers can stimulate. There is lots of new supply
coming from mines year over year that should roughly balance increased
demand. The Mother of All Bailouts, that included Bear Stern, and the drop of
crude oil over the last several days appears to have put out any
silver rush fire at this time. For how long the new silver rush has been
stymied is known only to the Creator and Sustainer
of the world. However, in my opinion, the current price dip
gives everyone a chance and choice to accumulate silver, in the forms
and prices you can find, for roughly 20% less $ than it cost a couple of
weeks ago. Keep plugging away at the extra risks in investing in silver that
you can't personally touch or otherwise verify exists.
Please let me know if you
want to talk with me about having a regional refiner fabricate
10 or 100 oz
bars, with your name and logo, that you can sell directly to the public
or accumulate for yourself. We have spoken before about my skepticism of OT Mining.
J in Pennsylvania
Jason Responds: Water desalination
plants can distill water on demand, but my point is
that droughts and shortages of water still occur, and the existence of some
water somewhere does not disprove the existence and fact of a drought. Similarly,
many coin shops are sold out, and many fabricators and mints are sold
out.
New investment demand, if it doubled,
would be 100 million ounces this year, and it looks to me like we are on par
for that level of buying, or higher. That is the equivalent of
what the Hunts bought, or more, if it continues for more than one year.
The Fed bailout of Bear Stearns and other
bailouts added $350 billion, which is about 350 times the investment demand
into silver. Shocking, and it will cause silver to move that much
higher in the long run.
I've been very disappointed in OT Mining.
==========
you are one egotistical religious fanatic...lol
do you honestly believe you are responsible for the silver
"SHORTAGE?" if there was a shortage,
the price would be going UP not down...you kill me
Jason Responds: Well, not everyone
is capable of understanding math, it seems. I'll try again. About
50 million oz. of silver were bought by investors in 2006. About 200
million oz. are recycled, and I'd estimate about 50 million oz. is
sold by coin shops to refiners over the year, or 1 million oz. per
week. My list is 74,000, which means that my readers only need to buy 13 ounces each, each
week, to create a shortage at coin shops. Clearly, many readers are buying
much more than that. That might not be enough to cause an immediate
change in price, but it will affect it, as refineries will have less silver
to make into bars, and could cause a short squeeze in the coming months as
regular expectations of 1000
oz. bar deliveries may be much lower.
==========
Jason,
Where do these published
spot prices come from?
Who determines them and
how?
It appears to me that they
don't take into consideration the price demand in the market place which
seems too disconnected from spot.
Thanks,
R
Jason Responds: Spot prices are an
average of the bid/ask quoted for the current delivery month for futures
contracts for 5 1000 oz.
bars of .999 fine silver. Until that
market can't deliver, that market will continue to be a trusted source.
==========
Question : why would a mint or any refiner/miner/supplier wish to report more silver then they have,
wouldn't it be in thier own interest to have silver
go up in value and profit from their own inventory?
Jason Responds: If they are short,
a mint might want to lie, and claim to have silver that they don't
have. And if they don't expect prices to rise, or if they have borrowed
from their inventory as one borrows money, those kinds of loans get very
expensive and impossible to repay, as most businesses are not growing profits
at a rate of 38% compounded each year like silver is going up.
==========
Thanks, Jason, for these great email reports!
Keep making them SQUIRM!
Best regards,
B
Jason Responds: Thanks!
==========
Good morning Jason. There is only one way to end the battle of 'I have
it'...'No you don't' speculation when it comes to these mints and their
holdings. If they say it's there, they need to prove it. And the only way
these mints will prove you wrong (or right) is to allow a full inventory
of their holdings with you, one other disinterested party, and their
designated representative(s) present. These mints will never allow this if
they are misrepresenting the truth...which is the nice way to articulate the
word lying. If they have what they say, they will hop on this offer as it
will 'rid the thorn' by quelling your contentions and publically embarrassing you.
So...Perth Mint, Northwest Territorial Mint, and any other mint which has
disputed your claims, I say this: "Either put up or shut up."
I would fully expect the normal legal and political language from them
concerning 'company policies, security, and safety' as a reason for not
allowing this. If you get this instead of an invite, I would assume the worse.
At this point, the world's politicians and legal community need to step
in and demand a full inventory to be conducted as proposed above. And they
are perfectly within their rights to do so, considering one of the aspects of
their jobs is to protect the people. I believe this will never happen, as the
ramifications of false claims on the mint's part would send a shock
wave through the world's financial markets unseen since America's
Great Depression. There would also be quite a few very powerful and wealthy
men and women going to prison for a very long time.
The time is now Jason. Make the offer...and make it a public forum where you
will be heard.
L
Jason Responds: I would not travel
to their location. No need. They could easily buy a $300 video
camera, and make a Youtube video of the silver in
their vaults, and show a rough estimate that they do, indeed, have plenty of
silver.
==========
there will be plenty
stories planted by "insiders" to confuse and
disourage the world
public from buying silver and hold onto paper
this is only the start
the Chinese have a proverb
"if you want to catch fish in nets
you have to make turbulance at the inlet to net" all you see
is the "financial
noise"
-S
Jason Responds: Interesting.
==========
Hello
Jason, Its S--- here in Vancouver.
I met you and your wife at the GATA reception a couple years ago after the
Gold Show here. I write a newsletter for friends/family called Why Gold,
Why Now? I have been buying silver since ’02. I spoke to Mr. Nadler
@ Kitco yesterday, to
confirm when Kitco would
be re-supplied with Silver Maples? He told me the problem was with the Cad
Mint, and that they had chosen to focus on Olympic silver products with 2010
approaching. He told me that there was no shortage of silver, that the Perth
Mint was “choking in 1000oz bars” and that evidence of this was
their increased storage fees (or their recent implementation of storage
fees), to encourage holders to take it home. He also referred me to ’06
CPM report as verification that there is no silver shortage. Mr. Nadler
mentioned your name and Ted Butlers name and quickly identified me with the
conspiracy crowd. He told me Mr. Butler’s opinions were wrong. I responded by asking how a COMEX short position of
200M ozs held by four traders was anyone’s opinion? I
understood that to be a FACT! He got testy and told me to
take it up with the Cad Mint, either with David Madge, Marketing/Sales
Director, or Beverly Lepine,
who I believe is the Mint’s President? I had actually been referred to
Mr. Madge by the Mint’s Manager of Customer Relations (Nicole Chevrier) last week. Mr.
Madge was away at the time but he returned my call yesterday - unfortunately
it went through to voice mail. I have since left him a voice msg and hope to hear back today.
I have a few questions, specifically, why is a Canadian citizen being denied
the chance to hedge against FIAT with a 100% pure silver product produced by
the Canadian Mint at a reasonable price in Canadian Dollars? The Mint is a
Crown corporation here in Canada,
is this not one of its mandates? As you probably know, the Mint only sells
Maples through dealers. They will sell commemorative coins to the public, $39
and up. Secondly, if they are indeed short silver, can a Canadian citizen
like myself produce my own 1000 oz bar for
conversion to Maples? And at what cost (if any)? I’ll pass along his
response when/if I hear from him today. Any other questions you might have
for him?
Finally,
my good friend Joe from J&M Coin told me last night he was hoping to confirm
an order for 30,000 Maples today. Last Tuesday his attempt to book 20,000
Maples with the Mint was declined. Joe is an honest dealer here in Vancouver
for nearly 40 years (“he’s
never seen anything like this”). He told me in
’07 he sold 100,000 Maples, so far this year 50,000, but for the last
three weeks he has not been accepting any bookings. He is also sold out of 10
and 100 oz
bars and is not accepting bookings for those either. I am planning to speak
to Joe today – my guess is he will not get his Mint order confirmed.
I
will keep you in the loop of you like?
S
Jason Responds: Yes, please keep me
updated. It's simply amazing to hear about the bias and arrogance and
dismissal of facts from Mr. Nadler. It's also refreshing to hear yet
again from another dealer who confirms, "he's never seen anything like
this".
==========
Dear Jason:
Your newsletter
has become more and more difficult to read. In fact I find it impossible to
get all the way through one before I must hit the delete button. For a
man of God as you claim you are, you show very little patience in your
opinions of other newsletter writers or in companies that choose to operate
on a different platform than one you prescribe. You lash out with
insults and innuendo pretending or believing that you know all...only to have
to retract your opinion, although in a very smug or condescending way down
the road. I tell you if I was the owner of the these
companies I would not hesitate to sue your ass.
I read a lot of
different industry analysts who all have a song to sing because of their
investment style or beliefs. And most believe the way they do because of
two reasons. They want to convince the reader to invest in the same things as
them so it can boost that share, option or commodity price or to sell
their own newsletter/opinion. I.E. it is done for the express
reason to make a profit, read greed...not out of the goodness of their own heart. You are no different and in
fact in recent months you have become more and more desperate by using a very
simplistic math formula or if that doesn't work quoting the bible as if
that will change their mind or God may choose to smite them down for you. Although
this does give me a good laugh once in a while it is not the reason I read
your newsletter. Frankly I think you have lost it. Just thought you'd want to
know how someone with no axe to grind feels about your ramblings.
R
Jason Responds: If I'm "no
different" from someone who is saying the exact opposite thing, then you
lack discernment. Somebody is a liar, and it's up to you to figure out
who it is, that's called discernment. You gain discernment by
exercising the skill in yourself. Keep reading. One day the light
bulb will go on. Trust me.
==========
Dear Jason:
I've been a regular reader of your
reports for about three years now but it seems of late you've gone wacko on
some things (like the Perth
Certificates to name just one).
You've delivered interesting
information in the past but you do not exactly approach things in a
methodical and sane manner. Maybe success and a feeling of
infallibility has gone to your head.
I guess I'll get my information
elsewhere.
I also guess you have 73,999 readers
now.
Jason Responds:
You
have successfully unsubscribed
Thank you - We
have received your unsubscribe request and have removed your email from
our list.
Actually, my list is now 74,692.
==========
AMEN JASON!!!!!!
Touche !
Mon ami
Jason Responds: God bless you!
==========
Jason, you are a good man. I really appreciate all your words of wisdom.I do not know how big perth mint is but
i`m worried for you. I do believe you that they are
not very proffessional and definately
are not an honest company. I believe eveything
always come out in the wash. Just watch your back as you keep us informed. If
anything ever happens to you, we will know where to look for justice. God-Bless
you always. P
Jason Responds: Thank you.
==========
Jason is now a good time to get into silver or should I wait a little longer...maybe
will fall a little more not much more as it is a good buy at 16-17 dollars .
Jason Responds: I never assume it will
fall when I'm assuming it will go up.
==========
I think you do your self, your readers and your letter a disservice by
bring yourself down to the level of people you don't agree with or who you
feel aren't as smart as you judge yourself to be. I don't disagree with
your view but certainly you are intelligent enough to make it without
trying to harm others with name calling or insults.
It also seems a little disingenuous to appoint yourself, based on Bible
scripture, as the one who needs to rebuke anyone. And that those who don't
agree with you need to read their Bibles more, like you are not only
smarter than the rest of us but more of a Christian also.
Merely things to consider when writing this type of email to 74,000
people. I enjoy your analysis and think you are mostly correct in your
positions and assumptions, but allow for other possibilities as well.
Jason Responds: Yes, I understand
that if you argue with a fool for too long, then other people will begin to
not be able to tell the difference. But fools do need to be
refuted. Look here:
Proverbs 26:4 Do not answer a
fool according to his folly, or you will be like him yourself.
5 Answer a fool according to his folly, or he
will be wise in his own eyes.
Now here's a
question for you. If you think I'm not supposed to criticize or
rebuke Nadler, why do you think you can criticize or
rebuke me? Oh the irony is rolling now.
==========
Hi Jason,
I bot
silver from Sunshine mint last night & my order was accepted &
processed, $$ in the mail.
Today I wanted
to buy some more silver & the website says:
"Trading is temporarily suspended - Extreme market
volatility"
Then it gives the folowing excuse (notice the dates are for 2007 - ???):
Sunshine Silver will be
closed for vacations May 21st thru May 28th 2007
All prices are indications only, based on market close May 18th, 2007.
Live trading will continue Tuesday, May 29th, 2007.
http://www.sunshinesilver.com/trading_hours_vacation.asp
Keepup the great work,
A
Jason Responds: Thanks.
==========
Dear Jason,
Again I wish to thank you
for your great reporting of the silver shortage. I always appreciate
your out-of-the-box thinking. Incidentially,
a person at "Investment Rarities", a very honorable
company that publishes Ted Butler and other sarvants writings,
has told me that Friday was the first time in their 30 year history that they
completely ran out of silver bars, bulleon silver
coins, and other stock.
I have an
propaganda idea to break open the false perception that there is a "No
silver shortage". Please call me at my home (916) 435-3846 and I
will sent you a one page description plus a one page "Pledge" you
might wish to publish/distribute.
India:
I have been interested
about silver stockpiles in India
for about six years. India
is a unique situation. Even though they have about one billion ounces
of Silver in the country, mainly married women's security/doweries
(sp?), they have very strict laws
that prevent the shipping of silver and gold out of the country.
U.S.
and European banking establishments have been trying to ask them to void
these laws, with little success. So even though they may have one
billion ounces of Silver, it cannot be shipped to the rest of the
world. Interesting???
As for Indian women selling
their only security of gold and silver for paper against arbitrary divorce by
their husbands, this will not happen, as it would change a 400 year marriage
custom.
Sincerely,
M
Jason Responds: Can you email
me the 1 page description of your propaganda plan?
==========
Squirm like worms!
Jason,
>From here on in I am in take possession mode.
Jason Responds:
==========
Jason: I purchased 10 100oz bars from Kitco,
unfortunately right before the blow-off, on 3/17. The bars were shipped
on 3/20 and I have received them. The bars are somewhat beat up, but I
have them (2 still in Engelhard plastic and 8 naked). Also, purchased
29 bars for my IRA on 3/17. The transfer was completed last week.
So I am not seeing a problem with silver delivery at this time
Jim
Ripon, CA
Jason Responds: It seems the 100 oz. bars are getting
beat up. I got 28 Englehards on the dip at
$17.50/oz., and they are the worst quality I've ever seen. Maybe some
paper silver shorts were pounding on them out of frusteration?
Who knows.
==========
I wrote you about a friend that has bought from Gulf Coast Coins over a
100,000 dollar order from Mike Joyce and today he still does not have
his silver and he is pissed ---over a 30 day wait
Jason Responds: Sorry to hear it.
==========
Jason:
Just my own personal note here, but once the prices on silver started
dropping, there were far fewer people selling silver products through the Nucleo Exchange on bulliondirect.
I really don't think that there is a shortage, I just think that there are a
lot of people holding silver that aren't willing to sell right now because
they think that the price is somehow destined or bound to go up. If or when
spot prices get back over the $20 mark, where they were before the sell off
started, I think that there will start to be a lot more silver available to
buy on things like Nucleo Exchange, as people will
want to lock in some profits.
So far as your opinions on Jon Nadler go, he did say that it looked like a
sell off was in the cards, with some significant drawdowns
in spot prices coming. He has been right on that so far, and his day to day
analysis tends to be pretty good. I don't think that you have any room to say
that he's a "foolish raving lunatic", especially when you keep
going on about some sort of an "engineered" price drop in the
metals. Why not go with the simplest explanation? It tends to be the best. There
are more sellers than buyers. I myself sold off at the most recent peak and
am watching to see where I think my money will best go next. Whether that be silver, or stocks, or real estate, I don't know. But I
will be watching.
Regards:
K
Jason Responds: Everybody has an
opinion. My understanding is that I first heard that Amark was out of 100 oz. silver bars at $20/oz. on Tuesday,
before Wednesday's price crash, and Amark is the
largest silver dealer in the U.S.,
and Johnson Matthey's primary distributor to the
public. My local dealer told me this and bought 25 bars from me at
$19.96 or so, which got me started on this story before anyone else. So,
my understanding is that this is not an "unwillingness to sell on a
dip" situation. This was a situation of the largest dealer being
flat out sold out at the peak, and my local dealer saying that the public had
cleaned him out, too!
==========
hey whats up with the drop in gold and
silver? i like to
know what you think.
Jason Responds: hey, you actually
have to read my reports to know. I bolded and
underlined the section in my below that addresses it.
==========
Jason,
I have been buying 1 and 5
pound lots of 90% silver US
coins on Ebay, and other lot sizes of 90%
silver US
coins there.
I would not recommend this for everyone, only someone VERY familiar with Ebay transactions/feedback/vendors AND also very familiar
with buying collectible US coins (though being comfortable with the Ebay seller by checking feedback is the most important
factor since most of these coins aren't really terribly collectible).
However you are comfortable and able, buy all the
silver US
coins that you can. They all do actually have a tiny to a significant
premium value in excess of the silver value, or they soon will. As with
the rest of the existing silver supply, a large percentage have already been
melted and more will be in the time coming. In time, even the 'junkiest' of real silver coins will have some added value
compared to the bullion value.
J
Jason Responds: Thanks, some of my
readers will find ebay helpful.
==========
Jason,
You
recently stated that "every book in the New Testament was
written because some people in some Church somewhere were acting foolish and
needed to be rebuked and corrected, as we are commanded to rebuke those who
are wrong." The first part of the sentence is correct, while the
last part is woefully incorrect and seriously misguided.
I would like to ask you
what business is it of yours to judge those outside the church? Are you not to judge those inside? God will judge
those outside.
1
Corinthians 5
9I have written you in my
letter not to associate with sexually immoral people— 10not at all meaning the people of this world
who are immoral, or the greedy and swindlers, or idolaters. In that case you
would have to leave this world. 11But
now I am writing you that you must not associate with anyone who calls
himself a brother but is sexually immoral or greedy, an idolater or a
slanderer, a drunkard or a swindler. With such a man do not even eat. 12What business is it of mine to judge those outside
the church? Are you not to judge those inside? 13God
will judge those outside. "Expel the wicked man from among you."[b]
Note very carefully: The
epistles of Paul were all written to whom?
They were written exclusively to the churches
and to leaders of
those churches who were instructed to disciple, encourage, exhort, and rebuke
teach those churches.
They were not written to the world, nor intended as instruction in how
to rebuke or exhort people outside of the church. This is another
area in which you are clearly in error.
2To Timothy my true son in the faith:
4To Titus, my true son in our common faith
To the saints in Ephesus,[a] the faithful[b] in Christ Jesus:
2To the church of God
in Corinth
To the church of God in
Corinth,
together with all the saints throughout Achaia
2To the holy and faithful[a] brothers in Christ at Colosse
To the churches in Galatia:
Now Jason, it really is
time you put your focus where it rightfully belongs and stop being
misdirected and misguided in your efforts. It is time for you to move on
to greater maturity and focus, don't you think? Have you considered
getting a Bible education and perhaps joining a Bible believing church where
you can learn and be accountable and use your gifts to the edification of the
church instead of blowing hot air where you shall most certainly reap
absolutely nothing from? Rebuking and exhorting people in the financial
markets may indeed seem to give you some satisfaction to your ego, but in the
end it shall certainly be burned away and shown for the hay, straw and stubble
it really is on that day. The true silver you ought to seek is
eternal and shall be the works done in the Spirit and
truth directed towards God's people, not the world. Unless of
course it is evangelism which is proclaiming the death, burial and resurrection
of Christ and his soon return, which historically was the only message
approved by our Lord for the world, and certainly the only message the
Apostles preached.
1 Corinthians 2
when I
came to you, brothers, I did not come with eloquence or superior wisdom as I
proclaimed to you the testimony about God.[a] 2For I resolved to know nothing while I was with you
except Jesus Christ and him crucified. 3I came to you in weakness and fear, and with
much trembling. 4My
message and my preaching were not with wise and persuasive words, but with a
demonstration of the Spirit's power, 5so
that your faith might not rest on men's wisdom, but on God's power.
So, either you are a minister to God's sheep, or you are an evangelist in the
Apostolic tradition. However your current direction you are
taking in rebuking the finance world is a big waste of your
considerable talent and you are sadly being misdirected. This is why I
take the time to point these things out to you, in the off chance that you
are simply behaving out of ignorance more than stubbornness and rebellion. Perhaps
your talents, abilities and gifts are being eclipsed by your
considerable stubbornness and refusal to get with God's program? Perhaps you
enjoy Jason Hommel's program better than our
Lord's? I suspect so. This shall pass in due time as I have warned
you before on other occasions, and now warn you again. It might feel better
in the short term to continue on your reckless path, but in the long
term, you shall not reap the kinds of imperishable rewards the Lord
would have for you, in choosing to do the Lord's work his way, with his
message, in his Spirit. This will cost you something as indeed it
costs us all.
Revelation
3
18I counsel you to
buy from me gold refined in the fire,
so you can become rich; and white clothes to wear, so you can cover your
shameful nakedness; and salve to put on your eyes, so you can see. 19Those whom I love I rebuke
and discipline. So be earnest, and repent. 20Here I am! I stand at the door and knock. If anyone
hears my voice and opens the door, I will come in and eat with him, and he
with me. 21To him who
overcomes, I will give the right to sit with me on my throne, just as I
overcame and sat down with my Father on his throne. 22He who has an ear, let him
hear what the Spirit says to the churches."
Sincerely,
D
Jason Responds: I have
carefully weighed and thought very carefully about all your scriptures and
words, because I do know that if the Lord is speaking through you, then I
must listen. But I think you take 1 Cor 5 out
of context, and I will respond with others.
When Jesus in Matthew 23 was rebuking the
Pharisees, was Jesus rebuking people inside the Church, or were
they of the world? Jesus said they were of the world.
Peter, in Acts 2 rebuked the whole crowd,
as murderers, and they repented, and were saved.
Stephen, in Acts 7 again rebuked the
Pharisees.
Paul, in Acts 17, rebuked the Romans as
superstitiously worshping out of ignorance, an
"unknown" god, who he began to preach to them as the Lord.
If I had to take what you are saying as
reality, then we, as Christians, who are supposed to be able to 'judge
angels'! should never judge anything outside the
Church, then our power would be destroyed, our effectiveness removed, our
light hid, our power to trample snakes and cast out demons removed.
Where does this false idea come
from? I think I know. The vast majority of Churches are non
profit 501c3 organizations. They do this so that their donors can
deduct donations from their taxes, contrary to how the Lord says to conduct
giving, which is to be done in secret, not so you can boast about it on your
taxes.
Matthew 6:1 Take heed that ye do not your alms before men, to be seen of
them: otherwise ye have no reward of your Father which is in heaven.
Matthew 6:2 Therefore when thou doest thine alms,
do not sound a trumpet before thee, as the hypocrites do in the synagogues
and in the streets, that they may have glory of men. Verily I say unto you,
They have their reward.
Matthew 6:3 But when thou doest alms, let not thy left hand know what thy
right hand doeth:
Matthew 6:4 That thine alms may be in secret: and
thy Father which seeth in secret himself shall
reward thee openly.
See, when Churches become a 501c3, they also have to obey the rules of the
IRS, which say that they cannot speak about political candidates. Weak-minded
Church men then have to justify such foolishness with scripture, so they
twist 1 Corinthians 5 into saying something that it does not say.
Paul is saying we are not to "judge" those outside the Church to
such an extent that we refuse to do any business with them, after all that is
a type of isolationism that he is not preaching at all, because we do have to
trade with the world, and by doing that, we can act as a powerful witness to
them. And the Church does have the power to isolate, or not
pay, those people who want to be in the Church, and not associate with blatent hypocrites, and not let them receive Church
donations or support, as that was one of the functions of the Church, to
distribute money to Church elders. If such elders had lost their way,
they were to be cut off. That, in no way, means we are not to judge
evil actions done outside the Church as evil. Yes, those outside the
Church will be judged by God, because they will reap the fruits of their way,
outside the Church.
Those in the Church have full power and authority to call a spade a spade,
both inside, and outside, the Church.
You missed Paul's context in the very next Chapter!
1 Cor 6: 2Do
you not know that the saints will judge the world? And if you are to judge the
world, are you not competent to judge trivial cases? 3Do you not know that we will judge angels? How
much more the things of this life!
12"Everything is
permissible for me"—but not everything is beneficial. "Everything
is permissible for me"—but I will not be mastered by anything.
But yet, you would forbid me to say things to those outside the Chruch? So you greatly err.
Finally, I will answer Paul's rhetorical question, "What business is it
of mine to judge those outside the Church"? It is my business, as
you may have noticed, this is the "Silver Stock Report", and thus,
I give reports about silver and silver companies. I judge them, and
evaluate them, and they are outside the Church. That's the entire
nature of my business.
Further, if we are to judge angels, then we are to judge kings of this earth,
too. We, as Christians, are to give advice to Kings, and tell them
whether they do right and wrong, in contrast to 501c3 rules.
Joseph was adviser to Pharoh. Daniel was
advisor to Nebuchadnezzar. Esther advised Xerxes.
==========
Are you paying attention? Silver is PLUNGING.
Jason Responds: Are you
paying attention? People cannot find where to buy silver, there is a
silver shortage. This is a result of the public scrambling to buy
silver from coin shops and cleaning them out, and price fixing by large
traders who trade a different form of silver, paper silver, and 1000 oz. bars of silver.
==========
Hi, Jason,
Why the price is going lower everyday? Will it go back
over $20 again?
Jason Responds: It's going
lower because 1000 oz.
bars are sold at the COMEX. It will go up again very soon, I think.
==========
supply vs demand, it's that and only that. i've had no problem getting 1
and 10 oz
bars, but 100 oz
is another story. jason,
is your theories only Bible based or reality based? i am a christian, let's
put that to rest, but are you still behind you're aggressive forecast of
12,000/oz in the next decade? just wondering, while i'm steadily collecting. thanks,
thomas
Jason Responds: Yes, I still think silver
can reach $8000/oz. in 15 years.
==========
Hi Jason: I went to my local coin shop in Edmonton
(Alberta)
no 100oz
bars. "No over the countert sales"
"four weeks wait", just what I was told today. First time I have
seen a shortage in anything and the price goes down 20%? Thanks for all your
information.
Jason Responds: Thanks for
the report.
==========
JASON,
This is Sudarshan and u mentioned in your last mail
that there may be some different silver in India so i
can tell u one that here there are lot and lot of coins and even bars but we dont know about shipping and any other thing if u can
come here and u want do some shipping of silver u r most welcome i will take care do believe me as if u come down here i can get as much as silver u want i
do gurantee that what ever silver i give u is pretty pure and its silver only. Think me as
a good friend and please do believe me.
Thank you and you are welcome
Jason Responds: I read there is a
ban on silver export out of India.
==========
Hi Jason, Todd from Canada,
just wanted to tell you that CIBC ( a major Canadian
bank ) has 10 oz
certificates of gold. ( they might have silver also?
)
It is the same idea where they keep the gold and give you the certificate. I
was told by the banker that the certificates are backed by the actual gold.
I am not worried about being scammed out of money by the
bank. I wonder if they really have all the gold though. The bank
would not give you the gold any way if you cashed in your certificates. They
would give you value in Canadian dollars less the spread. The price is a bit
better at the coin shops anyway.
Another problem with the bank is that you have to show proof of where
you got the money from. Banks have to abide by the anti-terrorist /
money laundering
regulations to report any suspicious money.
Just like as in the USA,
the real reason is for The tax man to catch the average citizen to get more
tax.
If someone walks in to the coin shop/currency exchange, there is less hassle.
Jason Responds: Why would you not
be worried about being scammed by the bank, while you are concerned they
might be selling you gold in the form of certificates that you cannot take
delivery of, and that you think they might not have?
==========
Should we start demanding our silver instead of a bank holding them,I want about 10 myself if
the price goes south between 15-16 i will take
delivery.
Jason Responds: Yes, take delivery!
==========
ALL THE SILVER EAGLES ALL DATES AND BARS YOU WANT ARE HERE IN
FRESNO,CA - ALL SHOPS
BUSINESS IS SLOW NOBODY'S
BUYING
WITH THE DAMAGE TO THE CHARTS
WILL LAST A FEW MONTHS -SEPT MAYBE
Jason Responds: That's not a very
specific report. How many Eagles? Which shop in Fresno?
==========
Thanks, for exposing Nadler; I really enjoyed that. I had complained to Kitco about him before. I'd call him an idiot, not for
his bias, which constitutes an agenda, but for his inability to be able to
hide it any more effectively.
Jason Responds:
Funny.
==========
Jason,
Do you still feel good about seg.to?
L
Jason Responds: yes
==========
Jason,
I would like you
to ask each and every reader to go out TODAY (or within one week, seven days)
to buy 10 oz
of silver (coin is easiest for most average readers) at whatever source they
find in their area or on line, and report back to you (us) about their
experience!!
It would not be
posed as a challenge,, people I think would be more
likely to respond if asked,, and their responses will matter---- they would
like to participate, not be challenged, and that their story will be
important for us.
I realize the tabuling of many responses might be difficult, but ten
bright young people in a room could take care of it,,
and the tabulating is not really the most important part of the exercise,,,
it is the removal of so much silver coin from the system.
I respect what
you are doing, keep up the good work.
K
Jason Responds: I've never tried to
appeal to people to buy the same amount in such ways; it's not
appropriate I feel. The reason is that some people can afford only 1 or
2 ounces,
and others can afford 1 or 2 tonnes, and it ought to be up to each
person to decide how much silver they want and need. The more the
better is what I'll preach.
But yes, I like the idea of publishing people's responses, I've been
doing that.
==========
Hi Jason,
Thanks for sending me your intriguing emails. You have
got me convinced, and now I am certainly interested in
purchasing silver. However, I have stumbled in the
first hurdle. I live in Bangkok, Thailand, and I can't
seem to find anywhere that will sell bars of silver,
tho there is plenty of silver jewelry.
Have you got any links, or do you know anybody here
that deals in silver bullion, or coins? Shall I buy
from abroad, using ebay or something, to be shipped
here?
Maybe gold would be easier?.... There is a large
market for gold here.
As you can tell, I am a bit confused. It would be of
great interest to me to hear your thoughts.
Yours sincerely,
J
Jason
Responds: I'm sorry, I don't know any sources
for you. You can try to buy the ETF, CEF, or goldmoney.com, but I
strongly recommend you find physical, or import it to your location somehow.
==========
Jason,
Thanks for your reply.
The big question is:
is new investment demand sustainable? For example, an offtake
or supply of an unanticipated 5- 8 million oz over 6-12 months once
can't sustain a rally or a pullback. However, if this net movement continues
and grows, now we have something!
I am working with a friend
who has a PhD in finance to figure out how to supply 10 and 100 oz bars with little
but not zero risk. In other words, primarily an on demand brokerage. Let
me know if you are interested as I can have new bars fabricated with your
name and logo and/or probably make a deal with a large local refiner to sell
the Englehard and JM bars that they were otherwise
going to melt. My preliminary idea is to have you offer them to your
subscribers at a slight discount to what the general public has to pay.
If you have further
interest, call me tomorrow, later today, Fri morning ,
or next week. Alternatively, I'll call you at your convenience. I am leaving
after this email for at least 2 hours.
With regard to OT, my
personal plan is to wait just one more drilling season: By this time next
year, this summer's results should be disclosed.
Joseph in Pennsylvania
Jason Responds: OT seems dead
in the water. With a low stock price, they are not raising money.
And without money, this drilling season will slip by once again.
I'm not yet ready to deal out my silver, and not ready yet to mint it.
Minting charges are too expensive; and the mints I know are not making
much money. Why? Because they have to mint in very large
volumes, and compete with previously minted material that was being sold
which drives down prices.
The previously minted material must really dry up, and people must be willing
to pay real minting costs, and this demand must be sustained before that
seems like a profitable business.
Prior to now, it was profitable to buy up 1 oz. rounds from the
public, and sell them to refiners, ie, destroy
product!
==========
Jason, I spoke for 20 mins with dir of sales at Cad Mint yesterday, David
Madge. Huge demand, on pace to sell 12M maples in 08 compared to 4M in 07. He
said they had confirmed maples for border gold and they should he here next
week. I said we buy at J&M and he has no supply for three weeks! You have
one dealer in a town of 3 million!? Joe had been declined earlier yesterday
on his attempt to confirm 30000 maples. Madge said that's crazy, its because his agent had flight flight
delay and was away from the office. He can call us and book and you can then
place your order. I called Joe afterwards with news and gave him Madges number. Apparently it had some effect, Joe told me
late yesterday that Madge had confirmed 20000 and that he was planning to
send money today. Not sure of price or delivery date, could easily be 6-8
weeks. They'll be sold by Friday I expect. I'm just entering the store now. Madge
had some other interesting comments. I also stopped in at Scotia Metals desk
yesterday. They had a few maples, 20.50 each. I asked about a thousand, not
in stock. Maybe in Toronto??
No 100 oz
bars. I got a quote for one kilo gold bar, 30900 usd.
Over 32000 cad! I called Joe, 29431. I'm here now at
J&M to help a client take it home. Steve Make it a great day!
==========
There were plenty of other emails that I received in response to my last
report, that had a different subject title, and I did not include them here,
these were about half of the mail I received in the last 24 hours.
Sincerely,
Jason Hommel
Silver Stock Report
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.
| 
