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Socialite says
that Socialism is Anti-Social
http://youtu.be/EJjtzEMtOrk
Click the Link
to watch the video at youtube.com
http://youtu.be/EJjtzEMtOrk
==========
In other News:
London
surrenders London Metal Exchange
http://tinyurl.com/7tg4udb
"Hong Kong
Exchange & Clearing has paid £1.4bn for the London Metal Exchange,
a company which makes £11.2m operating profit - a multiple of more than
124 times."
I wonder if
this sale was done in order to limit, or shift, or socialize, the liability
of an impending failure of the silver market? If China is the major bullion
buyer in the world today, and if China's buying silver and gold is going to
cause the LME to go bankrupt, why not sell the LME to them in advance?
At the start of
this bull market in silver, when the manipulators began their organized
retreat from manipulating prices, the COMEX went public. I made the same
observation then, that the COMEX exchange itself was an important backstop
that backed up all contracts, and thus, enforced margin calls on brokers. But
if the COMEX is a public company, with the owners being shareholders, this
limits the liability of the shareholders, and thus, removed one of the
guarantors of last resort of futures contracts.
This sale of
the LME passes the buck of the liability in my opinion, and exposes the liabilities
of a failing institution.
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This reminds me of another point. Many of my readers have asked me why don't I take delivery of silver at the COMEX to help
bankrupt them. Well, to answer that, if I'm a creditor and they go bankrupt,
I lose money!
Look, if there are two sources for silver, and one takes 1 week to ship, and
the other takes 2 months to ship and might delay that by another month or
two, where would you shop?
The truth is that silver users rarely buy silver at the COMEX. The reason is
that their delivery terms are completely unacceptable for any real business.
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Here's another way to condemn the COMEX. The ostensible purpose of futures
contracts is to help users "lock in" a price. This is silly.
Locking in prices is simply another term for price fixing. No respectable
economist these days will justify price fixing. Nearly everyone in society,
even nearly all journalists, even those with a liberal education, knows that
price fixing does not work, and is illegal, or should be illegal. Price
fixing is often a symptom or result of the failed economic policies of
socialism or dictators.
Yet, here we have the COMEX, a place where people can "lock in" and
"fix" prices, and the institution is allowed to operate in full
view and plain sight.
Fixing prices for delivery 3 months down the road makes no sense to any
producer. It ties up valuable capital to pay in full at the start of a 1
month delivery month, and not get delivery until the end of the month, or
have to wait even longer. In contrast, a real wholesaler of silver can put
silver in the mail the same day a wire comes in, and the US post office takes
only 2-5 days for delivery.
Locking in silver prices makes no sense, given the fact that all silver is
sold in the spot market on a regular and daily basis, so the price 3 months
down the road is irrelevant.
Locking in prices for 3 months down the road, "to stay in business"
makes no sense, given the fact that most businesses intend to stay in
business far longer than that. So, on the one hand, waiting 3 months for
delivery is ridiculously insane and takes way too long, and on the other
hand, locking in prices to be able to continue in business for at least the
next three months makes no sense at all.
None of the justifications for the existence of futures markets makes any
sense if you take just a bit of time to examine the arguments.
We buy and sell
silver and gold at free market fair prices: www.jhmint.com.
And we pack and ship silver the same day your wire comes in, about 80% of the
time.
=====
If you have not
done so, click the Link to watch the video at youtube.com:
Socialite says that
Socialism is Anti-Social
http://youtu.be/EJjtzEMtOrk
=====
I strongly advise you to take possession of real
gold and silver, at anywhere near today's prices, while you still can. The
fundamentals indicate rising prices for decades to come, and a major price
spike can happen at any time.
JH MINT & Coin Shop
13241 Grass Valley Ave
Grass Valley, CA 95945
(530) 273-8175
begin_of_the_skype_highlighting GRATUIT (530)
273-8175 end_of_the_skype_highlighting
www.jhmint.com
Minimum telephone order $5000 for free shipping, USA shipping only.
Open 10AM to 5PM Pacific Time, Monday to Friday, closed weekends and bank
holidays. (Also Closed from Dec. 25th to Jan 1st)
Kerri handles internet phone orders:
kerri@jhmint.com
(530) 273-8822
begin_of_the_skype_highlighting GRATUIT (530)
273-8822 end_of_the_skype_highlighting
NEW Location in Auburn,
CA!
JH MINT Silver & Gold
1760 Highway 49 A140
Auburn, CA 95603
(530) 889-1086
begin_of_the_skype_highlighting GRATUIT (530) 889-1086 end_of_the_skype_highlighting
www.jhmint.com
You can also buy
silver from my mom at www.momssilvershop.com
Mom will ship overseas, even large orders up to
$300,000 or larger, and also in lots of more or less than 100 ounces.
3510 Auburn Blvd #12
Sacramento, CA 95821
Sincerely,
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