Submitted by: Francis Soyer 05/04/11
For those of you who like taking 10 or 20 ounces into possession for the safe like I do take note of the huge disparity in physical ounces versus paper ounces like JPM's SLV ETF, which is now almost 5 dollars below an ounce from a bullion dealer, no doubt by design for an arbitrage to occur for dealers to sell bullio they do not have, buy SLV ETF's t the discount to spot and then demand delivery from the SLV cutodian. Good luck to the dealers doing this though as JPM has maybe an ounce or two in their vaults to cover this arbitrage.
The big take away from my latest order was that I was informed that my order would be significantly delayed for delivery, I am probably looking at 6 weeks from Bulliondirect.com So the physical market for this metal is becoming very difficult. This is a sign of things to come for the paper silver markets. They will be going to zero to reflect the total fraud that they are. Like I mentioned in the earlier post PSLV is the only alternative that I have found that actually has the physical silver in the vault to cover delivery. SLV and the CME have squat, they will default in the coming days on delivery and they will go belly up. Best of luck to them, they are going to need it.
No comments:
Post a Comment