Why buy silver but probably not right now
Posted on 21 November 2010 with 1 comment from readers
Many thanks to www.ausbullion.blogspot.com for sending us this video explaining the investment merits of silver. It’s a knock-out!
Last week in Syria we bought a Nabatean silver coin while visiting the Roman city of Bosra. It cost about $5 for its silver content. It is an undervalued currency to say the least. That coin should be selling for $50 or $100 to have kept pace with inflation. Watch this and you will realize that this is exactly what is going to happen:
However, ArabianMoney has been cautioning for a while that a stock market sell-off is overdue and that this will bring the silver price down sharply. And the obvious spike in the silver price since August is a warning as are the videos like this one which always appear just as the market slumps.
Silver is very volatile and you can make or lose a fortune very quickly.
1 Comment posted by readers:
Very worthwhile and factual video clip. Silver has risen sharply (over 55%!!!) since August 2010; so one would expect a reasonable correction, since it has risen too fast in just a few months time.
In that video clip, I especially liked the last few sentences regarding JPM and HSBC, two of Wall St.’s corrupt banks with the biggest naked short positions in gold and silver.
Massively Corrupt JPM and HSBC:
JPM has the largest naked short position in silver on the US COMEX; yet this same JPM is the custodian for the iShares Silver Trust (SLV). Without a doubt, this is a major conflict of interest that the US government continues to allow, and does nothing about it.
Ditto with the gold ETF (GLD). HSBC holds one of the largest naked short positions in gold on the US COMEX; yet HSBC is the Custodian of the gold ETF “GLD”. Does someone see any conflict here?
Buy a Silver or Gold Coin – Destroy JPM & HSBC:
I’ve talked about this topic before on this blog. For the month of November 2010, there has been unprecedented demand for gold and silver coins. Traditionally, November is not a significant month for coin purchases whereas December is. So if you’re inclined to buy, you may want to buy just a little at this point in time.
Methinks we’re gonna see unprecedented purchases of gold and silver in December . . . and maybe a lot of volatility, as well.