Went to monthly coin show on Sunday and they were all still complaining that 2008 Silver Eagles are hard to get.
I'm glad I have over 50 of them in the bank now.
Yes the 2008 are really hard to come by and people are selling them well over spot price.. with silver snowball you can get an unlimited amount for only 1 price how crazy is that!? I'm so glad I joined this program..
I have not heard anything new about the back office but I CAN'T wait! It's going to be so awesome and everyone is excited... I might send Ed an e-mail later and ask if he has any update for us.
johnk
Jul 16 2008, 06:12 PM
Here is an update from Ed, the admin of silver snowball:
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyzes the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
RBS warning: Be prepared for a 'nasty' period. Such a slide on world bourses would amount to one of the worst bear markets over the last century.
* * *
Goldman Sachs and Wells Fargo warn 'delusional' investors on stocks
By Ambrose Evans-Pritchard, International Business Editor
Wall Street faces the growing risk of an equities bloodbath in coming months as the credit crunch spreads to the wider economy and earnings crumble, according to a pair of grim reports issued by Goldman Sachs and Wells Fargo.
David Kostin, the chief US investment guru for Goldman Sachs, expects the S&P 500 index of Wall Street equities to plummet a further 15pc over the "near term" as companies scramble to lower their outlook for this year.
"Although only a few firms have reported first quarter results, early signs are awful. We expect a swath of lowered profit guidance," he said in a research note published today, entitled 'Fasten Seatbelts'.
Mr Kostin, who replaced the ever-bullish Abby Cohen as chief strategist in December, expects the S&P index to reach 1,160, which would amount to a fall of 27pc from the bull market peak of 1,576 in September and enter the annals as a relatively severe bear market.
* * *
Gold futures close at two-and-a-half-month high
Dollar weakness, strength in oil feed gold's risk aversion traits
SAN FRANCISCO (MarketWatch) -- Gold futures climbed Tuesday to close at their highest level since mid-April, as weakness in the dollar and rising crude-oil prices burnished the precious metal's investment appeal.
Carrying forward with its recent rally, gold for August delivery rose $16.20 to finish the session at $944.50 an ounce on the New York Mercantile Exchange. It climbed as high as $948.50 earlier in the session.
Gold's gains can be "attributed to both further weakness in the dollar and more near-record highs in oil," said David Beahm, a vice president at coin and precious metals retailer Blanchard and Co. Inc.
Gold has seen "increased support as a safe haven investment during these uncertain economic times," Beahm said in emailed comments. "Coming off their worst June since the 1930s, the financial markets are just too volatile right now for many investors to feel confident." Investments Ltd.
In the energy pits, crude futures closed higher for a fourth session in a row, as weakness in the U.S. dollar and geopolitical jitters underpinned demand.
"With inflation still at the forefront of most central banks' concerns, investors are likely to favor those assets which offer anti-inflationary properties," said James Moore, analyst with TheBullionDesk.com, in a research note. Gold is typically seen as a good hedge against inflation.
Silver climbed along with gold Tuesday, with September futures up 78 cents, or 4.5%
* * *
Here's my simplified view of the world - Gold and silver seem to be going up. Silver is up quite a bit just recently. Stocks and real estate are probably not the place you want your money. Silver seems to have a lot more potential than even gold since it more rare, there are currently still shortages and it's more affordable than gold. It's a good idea to keep getting silver and be in the growing silver business. Silver Snowball continues to steadily grow. Our total business increased by 12.4% in May and by 21.7% in June.
There. That's simple.
As mentioned in the Silver Snowball FAQ, our prices sometimes have to change to reflect what's happening with silver so it's possible that our prices have changed or soon will change. I try to avoid changing prices since it's extra work for me but I have to keep the business profitable enough to continue delivering silver coins and bonuses to members.
Have you seen the price of silver today? It is up $0.35 to $19.19 and you cannot buy silver eagles anywhere for that price.
If you are not buying silver now, you will wish you had. Silver Snowball makes it easy to start collecting and getting others involved.
John
lotsofmoney
Jul 17 2008, 04:59 AM
Great post John, thanks for that update!
johnk
Jul 17 2008, 08:09 AM
I started this thread in November of 2007. It seems I have missed out on any one of you that is active in this thread. I do not know a single one of you. Has anyone in this thread actually signed up under me?
I would appreciate anyone else that wants to sign up with Silver Snowball to go to the first post and use the appropriate link to the site. As per MMG rules. I know I have no control over who you sign up with but it seems everyone is hijacking this thread with the links in the signature and that is all it seems they are doing.
I do not know a single person that is active in this thread.
This is a great program and I have spent a lot of time promoting it and it seems I have missed out on quite a few sign ups because of what I just mentioned.
I have even had members in this thread go to other forums and try hijacking my thread there. What gives?
johnk
Jul 22 2008, 09:53 AM
Just a reminder, with your monthly subscription, you only need to generate 2 coin sales to break even with this program, anything after that is just a bonus.
Do you know at least 2 people that would participate in this program? Do you think with a little advertising you could find 2? I am here to help in anyway.
There are some great ways to get your message out, besides the great website we have some cool looking banners.
I have been doing great with SSB for over 8 months now and this program will soon be fully automated. Inquire for more information.
John
mostlyimpassive
Jul 24 2008, 09:03 PM
safe long term investment
johnk
Jul 24 2008, 09:26 PM
QUOTE (mostlyimpassive @ Jul 25 2008, 01:03 AM)
safe long term investment
Yes, it is very safe and long term, as long as Ed continues to take USD to pay for Silver.
The owner is Ed, is available by phone and anyone in this forum will tell you that everything has been perfect since this program started.
I do not know any other programs that you can actually call the owner on the phone.
As soon as you sign up, Ed will send you his phone number.
mostlyimpassive
Jul 25 2008, 03:37 AM
i m actually having a co-op account for this. sharing with 5 people and we receive 1 coin every 5th month.
i might open i account for my self, since it is performing so good.
bullion
Jul 26 2008, 09:54 AM
QUOTE (johnk @ Jul 17 2008, 11:09 AM)
I started this thread in November of 2007. It seems I have missed out on any one of you that is active in this thread. I do not know a single one of you. Has anyone in this thread actually signed up under me?
I would appreciate anyone else that wants to sign up with Silver Snowball to go to the first post and use the appropriate link to the site. As per MMG rules. I know I have no control over who you sign up with but it seems everyone is hijacking this thread with the links in the signature and that is all it seems they are doing.
I do not know a single person that is active in this thread.
This is a great program and I have spent a lot of time promoting it and it seems I have missed out on quite a few sign ups because of what I just mentioned.
I have even had members in this thread go to other forums and try hijacking my thread there. What gives?
John, I would say you are lucky that MMG protected your thread.
Everyone can have this in there signature. What is not allowed is asking people to go someplace and sign up. Everyone is free to join under whom they may chose.
Duddits
Jul 26 2008, 05:20 PM
I just received my monthly Silver Eagles yesterday. Holding the Silver Eagles in my hand is a GREAT feeling. I have something to show for my online activities instead of spending my money here and there with the hopes of increasing my money with PTS & PTC programs.
The SilverSnowball program is a great program. The amount of Silver that you receive every month depends on how bad you want Silver and how much effort that you are willing to put into promoting the program. I've found out that following up with the people asking for information makes a HUGE difference over just depending on Ed to do the follow ups for you. I also offer my downline one of my personal Silver Eagles if they try the program for 3 months. You ought to try it, johnk. An extra (FREE) Silver Eagle offer seems to be an offer that people notice.
I LOVE SILVER !!!
Duddits #211
BTW: If you are interested in joining the SS program, go to the 1st post here and join under johnk - This is his thread and I can see that he has put a lot of time and effort to keep the thread up to date. Cudos to you, johnk. I am impressed with your work here. Keep it up.
johnk
Jul 28 2008, 11:39 AM
QUOTE (Duddits @ Jul 26 2008, 09:20 PM)
I just received my monthly Silver Eagles yesterday. Holding the Silver Eagles in my hand is a GREAT feeling. I have something to show for my online activities instead of spending my money here and there with the hopes of increasing my money with PTS & PTC programs.
The SilverSnowball program is a great program. The amount of Silver that you receive every month depends on how bad you want Silver and how much effort that you are willing to put into promoting the program. I've found out that following up with the people asking for information makes a HUGE difference over just depending on Ed to do the follow ups for you. I also offer my downline one of my personal Silver Eagles if they try the program for 3 months. You ought to try it, johnk. An extra (FREE) Silver Eagle offer seems to be an offer that people notice.
I LOVE SILVER !!!
Duddits #211
BTW: If you are interested in joining the SS program, go to the 1st post here and join under johnk - This is his thread and I can see that he has put a lot of time and effort to keep the thread up to date. Cudos to you, johnk. I am impressed with your work here. Keep it up.
Thanks Duddits, we need more like you in the forums. I have thought of offering a bonus like that to new members but what if you don't have two, you only have one person buying coins? I might do something like that if they are buying 2 coins per month, after 2 months, they will get a free coin from me. I try to send out an email after someone signs up just to see how interested they are, instead of relying on Ed's automatic email.
Mostlyimpassive - Did you sign up?
Bullion, I don't feel lucky about MMG protecting this thread. Why would I? I haven't done anything wrong. I see that not being as active in here has hurt me by new members going to certain members signatures instead of signing up from the referral link in the first thread. I know that anyone can sign up with whoever they want. What I don't like is someone posting "Great Post" just to get their signature seen in the thread.
John
johnk
Jul 28 2008, 11:39 AM
Duplicate - Deleted
Duddits
Jul 28 2008, 08:07 PM
QUOTE (johnk @ Jul 28 2008, 03:39 PM)
Thanks Duddits, we need more like you in the forums. I have thought of offering a bonus like that to new members but what if you don't have two, you only have one person buying coins? I might do something like that if they are buying 2 coins per month, after 2 months, they will get a free coin from me. I try to send out an email after someone signs up just to see how interested they are, instead of relying on Ed's automatic email.
John
Johnk,
I just sent you a PM. Check it out when you have a minute.
Duddits #211
lotsofmoney
Jul 29 2008, 12:05 PM
QUOTE (johnk @ Jul 28 2008, 03:39 PM)
Thanks Duddits, we need more like you in the forums. I have thought of offering a bonus like that to new members but what if you don't have two, you only have one person buying coins? I might do something like that if they are buying 2 coins per month, after 2 months, they will get a free coin from me. I try to send out an email after someone signs up just to see how interested they are, instead of relying on Ed's automatic email.
Mostlyimpassive - Did you sign up?
Bullion, I don't feel lucky about MMG protecting this thread. Why would I? I haven't done anything wrong. I see that not being as active in here has hurt me by new members going to certain members signatures instead of signing up from the referral link in the first thread. I know that anyone can sign up with whoever they want. What I don't like is someone posting "Great Post" just to get their signature seen in the thread.
John
LOL what if the person thinks it's a great post? they can't credit them and mention it!? wow looks like someone is really about not having signups.. and I DO believe there is a "freedom to click" and you do not have to signup under the person who created the thread..
Humdrum
Jul 29 2008, 03:24 PM
I dont know anything about this website, I just saw it on one of my rotaters, but I have to say that it is BY FAR one of the most ugliest worst designed webisites I've seen in awhile...
I hope for the companies sake they put some more effort into it.
Hula
Jul 29 2008, 03:50 PM
I see nothing wrong with the web site. And it works just fine!
lotsofmoney
Jul 29 2008, 04:08 PM
QUOTE (Hula @ Jul 29 2008, 07:50 PM)
I see nothing wrong with the web site. And it works just fine!
I totally agree! one thing that I look for when I join companies is the website and how good it converts. believe me this site converts! . It even has a built in auto responder which is a excellent bonus so you can keep track of everyone that is interested.
lotsofmoney
Jul 31 2008, 05:28 AM
I recieved more coins yesterday!!
johnk
Aug 3 2008, 10:05 PM
QUOTE (lotsofmoney @ Jul 31 2008, 09:28 AM)
I recieved more coins yesterday!!
Thanks for letting us know Justin. Edit: Inappropriate remark removed.
Its not the website that really matters, its the performance that impresses people the most. This one has been performing great for almost a year now. Besides that there is a new automated site being developed. I am sure the site will be a little different but I don't expect much of a change.
Enjoy your new month of earning silver!!!
John
Hula
Aug 4 2008, 12:54 AM
QUOTE (lotsofmoney @ Jul 31 2008, 03:28 AM)
I recieved more coins yesterday!!
Excellent! Congrats lotsofmoney!
krusso
Aug 4 2008, 03:40 PM
Silver Snowball is an excellent program. I have been a member for several months and I pleased to report that all shipments have arrived on time.
Robert Kiyosaki, author of "Rich Man, Poor Man", says...
"SILVER is the biggest opportunity I have ever seen - bigger than Real Estate - bigger than anything else."
To help you understand his statement please take a few minutes to watch this video...
Could such a rise occur again? Absolutely! One thing is certain. Precious metals are a nice addition to your assets.
Hula
Aug 9 2008, 11:46 AM
Update from Ed...
Regarding what's new -
In the "what's going on with the automated sites" department - no one is looking forward to the automated sites with instant replication, back office, instant notification of prospects and new members etc. more than I am because when the installation is complete it will save me about 6 hours a day of my 80 hour work week. I had been called by Adam, the owner of the company I'm using, webscapeworldwide.com about 2 weeks ago and due to some health problems he was having he said there would be another delay. After patiently waiting a couple weeks I finally contacted the company and found out that Adam, who I had been doing all the dealing with on the instillation project had been in the hospital and person in charge there currently, Rob, did not know about Silver Snowball's installation project because all the files were in the Adam's computer. So when I told him he put us "on the board" where we are number 5 with 4 "fairly routine projects that shouldn't take too long" ahead of us. I resent Rob all the details of what I had ordered and what still needed to be completed as far as the custom programming and should hear soon what the new estimate for completion time is.
Meanwhile . . . . . because I can't wait around forever for people to do what they do I just installed a better shopping cart which will save me time in processing new orders.
So that's the latest on the automation project - not the most exciting reading but just know I'm doing all I can to speed things up and make back up plans to get things done with or without the original company. Of course it would be the easiest if they just completed what they started since it will have everything we need.
On the lighter side . . .
The following email will be one of the follow up emails that will go to your SSB prospects once we have everything automated since having our own autoresponder and unlimited follow up system is part of the automation project. The subject line of the email that will go out will read:
Silver Snowball - What can inflation do for you?
And there will be a part at the bottom inviting people who haven't joined yet a way to join as they will be directed to your specific SSB site to join. I'll leave that section out in this email so no one gets confused by me asking you to join when obviously you are already a member. Here's the email:
I started Silver Snowball because I thought it might be a good idea for people to own a little silver. Unlike "paper money" which is well . . . paper, silver has been real money for thousands of years. I don't claim to be able to predict the future, though I can certainly observe events that are happening right before our eyes. I don't claim to know for certain that paper currency in countries like the USA will someday become as valuable as currency in a country like Zimbabwe. Then again, I don't claim to know it WON'T happen either.
Again I can only notice what's happening right before our eyes. It sure seems like inflation is getting worse and that paper money doesn't go as far as it used to. I do know that silver seems to hold it's value and a Silver Dollar still buys as much as it used to. So maybe, just maybe being in the silver business and offering people a way to accumulate beautiful silver coins is a decent thing to do.
Here's a "light-hearted" look at what inflation has done in Zimbabwe. Do YOU live in a country that relies on "paper money"? Could it happen in your country? That's your call. You decide. You may want to base your decision on what is happening RIGHT BEFORE YOUR EYES.
Zimbabwe: Country's Unhappy Millionaires
VINCENT Chidatsi sells juice cards under a tree in Kwame Nkurumah Avenue, his "office" for the past five years.
He forks out at least $10 million a day in bus fares to and from Chitungwiza.
"The money I spend on a day is increasing almost daily but the money I get is not increasing at that rate," he said.
Sithabile Matimba is a receptionist in the Graniteside industrial area. She has worked for the same company for 10 years.
Her $100 million a month salary barely covers the basics: she needs $176 million a month for transport from Mabvuku to Graniteside.
"I have to look for money for rent and food. I have to supplement my income through the sale of maputi at work," she said.
Chidatsi and Matimba are among Zimbabwe's unhappy millionaires, who have watched in disbelief as inflation ravaged the purchasing power of the Zimdollar.
While the central bank tried to enhance convenience by introducing higher denominated notes to ease citizens' woes of carrying bags of cash, there is a danger the victory is phyrric.
Only last month, central bank governor Gideon Gono unveiled $10 million, $5 million and $1 million notes, as a stop-gap measure to ease people's pain of carrying large bags of cash.
But as is the norm in a hyperinflationary environment, the prices of goods and services are rising at an astronomical pace.
Since June 2006, Zimbabwe has been in hyperinflationary mode, with month-on- month inflation consistently at over 50 percent over six months
A one-way trip from Epworth into the city cost $700 000 in December, but is now $4 million. A loaf of bread now costs $3 million from $700 000 in December.
Analysts say the high inflation - 26 000 percent in November, according to Reserve Bank of Zimbabwe figures, and 150 000 percent in January according to the International Monetary Fund forecast - has reduced the value of the currency.
"In the world the top percentile of rich people are millionaires but here beggars on the streets are millionaires," said Dr Daniel Ndlela, an independent economist.
In hypeinflationary conditions, a central bank prints larger notes to ease the burden of carrying sackfuls of cash.
Zimbabwe has joined the crusade of doling out larger denominated notes. The $10 million note, introduced last month, is the largest note, not only in Africa but in the world, which analysts say is embarrassing.
"We are the most ridiculous people," said Ndlela. "There is no currency in Africa that is measured in millions.".
Hyperinflation has not only rendered useless the nominal value of the currency, but has whittled down the value of the people's labour. .
Analysts say the introduction of large denominations, though a good step in enhancing convenience, will not tame inflation.
"Fundamentally, the introduction of higher denominated notes is a good step in terms of enhancing convenience," said David Mupamhadzi, group economist at the Zimbabwe Allied Banking Group. "But it cannot be used as a substitute to tame inflation."
Mupamhadzi proposes a radical policy shift which might be painful, but is "a necessary cure" for the ailment.
He says there is need to open up the market to curb price distortions driving inflation.
"Although it is going to be painful, we need the pain for future benefits," he said.
In a hyperinflationary environment, governments often try to disguise the true rate of inflation through suppression of publication of money supply statistics, or inflation indices.
Zimbabwe has been no exception and the November inflation figures were only released less that two weeks ago, not by the Central Statistical Office, but by the RBZ when it announced its monetary policy statement.
Governments under hyperinflation can effect price and wage controls to disguise the true rate of inflation.
In June last year, the government ordered businesses to slash prices of all goods and services by half in a populist move that emptied the shelves.
Businesses are still to restock to pre-June levels, notwithstanding cheap funds doled out by the Reserve Bank of Zimbabwe to companies for restocking.
Matimba is worried that if a solution is not found "as a matter of urgency bags (of money) would bounce back".
Dr Ndlela said: "If the authorities refuse to change the currency, and assuming these guys will be there in August, we won't be able to pronounce our money."
* * *
To answer the question in the subject line, "What can inflation do for you?" one thought is that if you have protected your family by being in a silver business that helps you and others acquire silver then maybe inflation can help your business and the value of your silver grow. And if you don't prepare then perhaps the proper question to ask might be, "What can inflation do to you?"
Thank you for all you are doing to help people own silver,
Ed
Admin, Silver Snowball - the company where EVERY member gets silver. 781-294-7009
johnk
Aug 13 2008, 02:31 PM
The price of silver has gone down and now is the time to start buying silver. If you can buy it at spot prices, then you should buy all you can and even share with others where we can get it for less.
If you want to earn free silver and help others learn about collecting silver, then join silver snowball and then show them how to earn free silver too.
Thanks,
John
mostlyimpassive
Aug 14 2008, 08:39 AM
Thats a good news that price of silver has gone down, we can buy more now
Spinach
Aug 14 2008, 06:46 PM
Ha ha it just isn't a fair world is it!! Human beings are just human beings!!
My thoughts from reading excellent writings from the greatest minds in the world are that there will be carnage in the streets eventually. Sad but true. My friends tell me I am a doomsday person but they don't face reality staring them in the face. They have lived in the best of times with the belief that the good old government will always be there for them. They don't educate themselves. I feel so sorry for them as many will be wiped out.
And where can you go to if not the precious metals?? No bank is safe and anyone who leaves their money there has rocks in their heads, they are all tiltering on the edge.
For anyone interested in reading the REAL state of the world go to this site www.lemetropolecafe.com where you can sign up for free for a two week trial. They are fighting a battle against the incidious corruption going on. It's the wealthy protecting the wealthy with the little person paying the price. Human beings are just human beings!!!
My advice is buy buy buy silver and gold. Batton down the hatches with supplies. Almost sounds silly writing that but when things happen they will happen so fast you will wonder what hit you.
Be prepared..............
johnk
Aug 15 2008, 09:33 AM
Hello,
I received the info below. I clicked on the link. I can't believe I watched the whole thing - all 5 videos, in order, over a two day period. I could not stop watching them. If you watch them start with Part 1 and watch them in order. You will not believe your ears or eyes.
To me the most fascinating tidbit is how it started with Napoleon. If you get to that part and understand how the people referred to "fooled" the majority of investors by pretending to sell when their plan all along was to buy, consider what's going on now, and what might happen over the next few weeks, possibly months, in the gold, silver, and US Dollar markets. I suspect THAT'S what's going on. The SAME people (well family and other insiders) that multiplied their fortune using the Napoleon trick with the British markets back then are probably in the process of fooling the world into panicking to get into back into US Dollars (and out of precious metals) and when "everyone" has sold their gold and silver and has paper money those who orchestrated the whole thing will buy most of the gold and probably ALL of the silver, knowing that paper money was a bamboozle to begin with. They would know because they created it and control it. We won't be fooled again.
Now is the time to be buying as much silver and gold as you can afford.
I'm done with my intro. Here is the info.
A new video is sweeping the country like a hurricane. Everyone is talking about it, or soon will be. Why? Because it lays bare TRUTH.
It's called "You Won't See This in the News," and it's free - all it will cost is some of your time.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks?will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered? The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson
John
Hula
Aug 15 2008, 10:16 AM
Got my monthly shipment of dazzling Silver Eagles.
Spinach
Aug 15 2008, 02:39 PM
QUOTE (Hula @ Aug 16 2008, 04:16 AM)
Got my monthly shipment of dazzling Silver Eagles.
Well treasure them Hula.
I received this email today:
8:30a ET Friday, August 15, 2008
Dear Friend of GATA and Gold:
As the U.S. Mint suspends sales of American eagle gold coins, Silver Stock Report's Jason Hommel reports many telling new details about the growing shortage of silver. Hommel's commentary is headlined "What the Silver Shortages Mean" and you can find it here:
Also commenting on the silver shortage is David Bond of the Silver Valley Mining Journal, whose essay "Silver Shortage? What, Me Worry?," can be found at GoldSeek's companion site, SilverSeek, here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.
* * *
If you go to the sites you will see that dealers are out of stock. Strange isn't it and yet the price of both gold and silver plummet.
There is something in the wind.
As John said there is manipulation at play. Don't be fooled. There is nowhere else to go.
Hula
Aug 15 2008, 03:06 PM
Yep - something's up alright. Strange.
BTW, John's post was actually an email update from Ed Freeman.
Spinach
Aug 16 2008, 12:19 AM
QUOTE (Hula @ Aug 16 2008, 09:06 AM)
Yep - something's up alright. Strange.
BTW, John's post was actually an email update from Ed Freeman.
Yes I noticed that as well.
Got emails also from Franklin Sanders and Howard Ruff all saying the same thing about the shortages.
Gosh you really seem to get around Hula
Hula
Aug 20 2008, 11:38 PM
More great stuff from Ed...
This is going to all SSB members. You are welcome to send it to all your prospects who have not yet joined.
Here's a headline you probably won't see anywhere else:
While Rest Of World Waits Silver Snowball Members Continue To Receive Silver Eagles
Although many members have heard about the current silver shortage (and sent me articles, thank you), in case you haven't heard, or don't really know if it's true, I'm sending out this issue of Silver Snowball News to say . . . . . yup, there really is a shortage of silver out there. How can the price of something be down when there is none around?
Jason Hommel of the Silver Stock Report confirms, "None of my trusted, major, regular dealers have any silver to sell.
And oh yes, what about that current low price?
There's a short story that goes something like this. A lady wants to buy sausage. There are two butcher shops next to each other, one advertises $1.99/lb., the other advertises $2.99/lb. She goes to the $1.99/lb. shop first. But there's no sausage, they are out. So, she goes across the street, and sees sausage for $2.99/lb., and promptly complains about the price. "Why don't you sell it for $1.99/lb like the other guy?" Butcher answers, "Lady, when I'm out, mine is $1.99/lb, too!"
Price means nothing if you can't get the product"
At Silver Snowball, my local dealer, one of the thirteen that buys American Silver Eagles directly from the US Mint, has none. Another dealer I use who has never been out, is currently out. Fortunately I have 2 orders I got in when they were taking them though I'll have to wait about a month for delivery on the last one.
But between what's in stock, what's coming and the fact that my local dealer can usually find higher priced back dated Eagles through his network if we need them, I'll do what I've always done which is to keep your silver coming to you.
It should be pointed out that many believe the current "spot price" for silver and gold is pure fiction since just about every major coin dealer is currently SOLD OUT of most silver, especially American Eagle Silver coins. It's been reported the US Mint, which has been severely rationing silver coins the past 5 months has now stopped shipping gold coins. and I just saw at one dealer site that they aren't taking orders for silver until they catch up. And obviously none have been shipped out recently or coins dealers would have some. Why? A good guess is because they can't find enough to buy - at least at the "fictional" spot price.
The Gata Dispatch reports, "The U.S. Mint has suspended sales of American Eagle gold coins and is refusing orders from dealers, two coin and bullion dealers confirmed Thursday.
The mint's suspension of gold coin sales follows its tight rationing of sales of silver eagle coins, begun in May, when sales to the public were terminated and sales to the mint's 13 authorized dealers were tightly limited.
The suspension is overwhelming evidence that the futures contract price of gold on the commodities exchanges is substantially below the physical market price and that, indeed, the commodities exchanges are being used as GATA long has maintained -- as part of a massive scheme of manipulation of the precious metals, currency, and bond markets."
At Silver Snowball we currently do still have American Eagle Silver coins and there has been no disruption in our fast, reliable service. We will continue to do all we can to keep the silver coming to you.
I've received quite a few articles about the current silver shortage from members. I'm putting what seems like the most complete article below.
And if you aren't ready to settle in to a long explanation of how the volatility in the precious metals markets could be a sign that something big is about to happen then a great little distraction is to go to http://www.iousathemovie.com and watch the trailer to this movie that is coming out called I.O.U.S.A.
And last random thought - My condolences to those of you who currently can't advertise in a popular traffic exchange site that is being prevented from paying its members by those who protect us from making money. The latest news from the company looks very promising and it's a great place to advertise Silver Snowball. But it just shows how quickly "digital" money can disappear. In the blink of an eye money "you think" is somewhere such as a traffic exchange site, or perhaps a bank, or bond, ANY type of digital form of paper money, or even the value of that paper money - it can disappear just like that. Digital money and paper money are not money. They are digits and paper. Silver or gold that you own is real money. We like silver better because it's more rare than gold. The current silver shortage proves just how rare it is. And the fact that money in digital form you think is somewhere can disappear, that's all the more reason to accumulate silver and share our mission with others. Accumulate real money because someday it could be the only money you have.
The Disconnect Between Supply and Demand in Gold & Silver Markets by: James Conrad posted on: August 18, 2008 | about stocks: DBP / GDX / GLD/ SLV
There is a huge demand for both gold and silver right now in India and North America. North American shops are completely bare of silver. Indian shops are empty of both silver and gold.
Even the Indian banks don't have any gold or silver. The big western bullion banks, based in New York and London, control both the gold and silver trade. Reports from India are that they are refusing to extend Indian bank lines of credit, forcing the small banks to deliver to clients, collect money, and pay down lines of credit, before being allowed to take delivery of another gold or silver shipment. This is very abnormal.
Normally, if a banker's bank knows that its customer-bank has firm orders, it would extend the smaller bank a bigger line of credit. Not now.
By refusing to extend lines of credit, the big bullion banks are essentially rationing a very thin supply. Most physical silver, for example, is being reserved for industrial and fabrication use, and investors are simply not able to get any, without waiting for months. Investor oriented shops are bare, and the U.S. Mint has suspended coin production. All available supply seems to be reserved for industrial users. You cannot substitute paper claims for real silver, in industrial use, because paper doesn't have the physical properties of silver. So, it seems that all available supply is being diverted to industrial users, and, to a lesser extent, aside from the squeeze on lines of credit, also to jewelry fabricators. But, investors are left out in the cold. They can accept paper claims, or nothing. The most interesting mistake that the manipulators have made is in not supplying the U.S. Mint, which has run out of silver, proving that there is a severe shortage.
Meanwhile, by refusing to extend Indian bank lines of credit, Indian jewelry demand for both gold and silver is being stymied. India is not being allowed to drain away precious metals, in the amounts that are warranted, given the low prices and the numbers of unfilled orders that are sitting on desks in India. World bullion banks, in other words, are managing deliveries of physical gold and silver to artificially reduce the quantities delivered, under the excuse that the "Indians have run down their credit lines."
The happiest fact of bullion bankers' lives is that western markets are, with the exception of some fabrication and industrial demand, almost 90% paper based. The huge COMEX futures market almost never sees an ounce of real silver or gold ever change hands. It is all paper, shuffled back and forth. These paper markets are being flooded with paper based "claims" to alleged gold and silver, supposedly being held in big bank vaults in London and New York City. The market is overwhelmed with paper claims, and the big bullion banks (maybe, with the Federal Reserve providing the money?) are paying big bucks to secondary derivatives dealers to get them to lease this artificially created "gold and silver." In a normal market, one who leases a thing of value must pay for it. But, now, derivatives dealers are being paid to lease both gold and silver. Then again, it may not be a thing of value, if it is fake.
That being said, the paper claims may have a lot of value, whether or not they are fake. Derivatives dealers can write futures contracts, options, etc., according to CFTC rules, because paper "claims" to vault-stored silver and gold can be used as the legally mandated "cover" for futures contracts. To understand the nature of paper claims, we must travel back in time, for a moment, to a class action against Morgan Stanley (MS). According to the complaint, Morgan Stanley claimed that it bought physical silver, on behalf of various clients, and was storing it, in safe-keeping, in its vault in New York. Allegedly, Morgan Stanley defrauded its clients from Feb. 19, 1986, and Jan. 10, 2007. According to the complaint, it never bought any silver, but, all the while, continued to charge clients big fees for storing the imaginary metal. Morgan Stanley is one of the biggest investment banks in the world. It is one of the major players in precious metals. Yet, according to the lawsuit, the paper claims to vaulted silver it issued to clients was nothing more than a lie. One of Morgan Stanley's defenses, interestingly enough, was that everything it did simply followed "standard industry practices." For more information, see here.
Apparently, it is standard Wall Street industry practice to send people monthly statements promising that the firm is storing physical precious metals in a vault, charge for the storage, but really never buy or store any real metal. Morgan Stanley eventually settled the case for many millions of dollars in damages, rather than going to trial. That tends to indicate that they were guilty, as charged. I believe, with good reason, as you shall soon see, that most of the paper claims to silver and gold, now floating about, and collapsing prices, are cousins to the Morgan Stanley silver claims.
Logic tells us that the so-called metal must be imaginary, and I will soon tell you why. Yet, for some reason, in spite of class actions like the one described above, no one demands to see it. The majority assumes that banks, like Morgan Stanley, are honest, and would not issue fake paper claims. But, if they did it before, they are probably doing it again. That could be the key to precious metal market manipulation.
If you are a huge bank, with hundreds of billions of dollars worth of short positions, and you know the price is going to explode, you can do one of two things. You can be honest, like most individual and institutional short sellers must be, and cover your short position by buying back at market prices even though you may take losses to do so. Or, you can be dishonest. The majority of banks and hedge funds don't have the option of being dishonest, even if they want to be.
However, what if you happen to be a primary dealer of the Federal Reserve, or the ECB, or the Bank of England, or all three? If you are, then you happen to have overwhelming knowledge and control of the marketplace, because your divisions are deeply enmeshed in the global financial trading system, and your powerful computers allow you to analyze all markets in a matter of minutes or even seconds. You have an ownership stake in all the big markets like the New York Stock Exchange, Nasdaq, COMEX, NYMEX, and the London Metals Exchange.
Unlike a small or medium sized institutional investor, you are in a position to be dishonest, if you choose to be, and in a position to profit from your dishonesty. Because all orders flow, at one point or another, through your firm or one of a handful of other big wire houses, you will know where the stop-loss triggers of non-affiliated long and short sellers are. With this in hand, you are ready to manipulate any market, especially small commodity markets like gold and silver.
The first thing you need to do is issue large numbers of false paper claims to allegedly stored gold and silver in your vault. This gold and silver really doesn't exist, but it doesn't matter because you are a big prestigious bank, and no one questions you when you say it is in your vault. You offer these claims for "lease" to any secondary dealer willing to take you up on it. You don't want to sell them outright, because then you might eventually be faced with a demand for the real metal, as Morgan Stanley was. You don't actually have enough real metal to cover these claims, so, you want to make sure that the operation takes place in a limited time frame. That's why you "lease" the claims for a term of months. If you find that small dealers are afraid to lease such claims, you encourage them by subsidizing the leases with a negative interest rate. In other words, you pay them to accept your alleged gold and silver.
This is exactly what is happening in the precious metals market, right now. Gold and, especially, silver leases are being subsidized. As of a week ago, if you are a dealer, and you lease gold or silver, from the bullion banks, incredibly enough, THEY WILL PAY YOU! At the end of this article, I have attached a chart, showing the current negative lease rates for the various metals. Dealers who lease claims to fake metal, are able to issue futures contracts and other derivatives. The fact that they hold contractual claims to metal means they will have fulfilled the "cover" requirement imposed by their federal regulator, CFTC. The CFTC has never bothered to audit a vault to see if the gold or silver is really there, so you've got nothing to worry about. You're a big bank! You say it is there. Everyone believes you, just like Morgan Stanley's customers believed them. You might even be Morgan Stanley.
At any rate, you initially issue a lot of claims to fake metal, and so many futures contracts are written, in a very short time period, that they flood the market on exchanges like COMEX and the London Metals Exchange, where almost all the transactions are on paper, and real metal rarely changes hands. Meanwhile, if you are the big bullion bank, you know what you are doing. You issue just enough subsidized precious metal paper to automatically trigger stop-loss orders. The price starts going down as the sell orders are filled. That triggers yet more stop-loss orders, and the process becomes one of dominos, falling one after another, until the price collapses. If the operation is successful, and the collapse is big enough, market confidence is destroyed, on a wide scale.
The destruction of market sentiment won't last forever. You can't fool all the people all of the time. But, temporarily, having been burned badly, investors refuse to buy. Buying may still be happening on the real market, as it is, in both America and India, in gold shops. True physical metal will still be in severe shortage, so the metal will disappear quickly, as the price goes down below where true market forces should be bringing it to reach equilibrium between supply and demand. But, real market buyers look to the COMEX and the London Metals Exchange, because they think they are honest exchanges, even though they may not be.
Prices on those exchanges will determine prices charged in shops, and when the price goes down deeply, there isn't enough product to go around, because everyone buys it. In other words, supply and demand go into disequilibrium, there isn't enough supply to meet the demand at such low price points, so delays in delivery, as well as outright shortages result. That is what is happening, right now, in the physical gold and silver market. Not only to retail investors, but, also, even to the U.S. Mint, which has suspended production of gold coins, and is rationing silver coins.
At any rate, when market confidence is damaged sufficiently, we can move in. We unwind our new short positions in the futures market, by buying back huge number of long positions at very low prices on the COMEX. We also unwind an exponentially larger number of positions inside the shadow world of "dark pools", which are little known secretive private exchanges, controlled by the big banks. It ended up costing us some money, but not a lot compared to the money we've avoided losing. We've paid subsidies on the leases, but we've never actually had to buy the gold or silver, because there isn't any available, and none in our vault. This is the way that a group of big bullion banks could induce a price collapse to unwind hundreds of billions of dollars worth of potential losses, or position themselves to go long on hundreds of billions of dollars worth of potential profits.
Contrary to the pundits at CNBC, Bloomberg, etc., the price of gold really has nothing to do with the value of the dollar or the value of oil. It doesn't matter what the dollar is worth, in relation to euros, pounds sterling or Zimbabwe money. It only matters what supply and demand factors exist for gold. Yes, the demand will fall a bit if the price goes up, for example, in euros, because the euro has depreciated. But, what really counts is not what the euro, yen or dollar price is, but, rather, whether or not there is enough demand to soak up the available supply.
Gold is priced in dollars, but, so long as people holding either dollars, euros, yen, yuan or Zimbabwean money, are willing to pay whatever price gold is selling for, in an honest market, the price should rise. Obviously, enough people are willing to pay for gold and silver, at the previous $978 and $19.50 per troy ounce price, because the U.S. Mint could not source enough metal at those price, and had to suspend coin production.
This proves that people are more than willing to fork over, in whatever currency they are using, the previous prices for gold and silver, in such quantities, that a shortage was already existing, before the price collapse, especially in the silver market. It is true that people in poorer countries like India, might have back on their consumption.
But, while they were cutting back, demand and consumption of gold in North America, including Canada and the USA, was soaring. For example, before it suspended production of bullion coins, due to shortages, the U.S. Mint's statistics show that it was printing 2.5 times as many gold coins, and almost 4 times as many silver bullion coins, this year, compared to last year. Gold and silver bullion, in bar form, was also flying off North American retail shelves.
Bottom line: Enough people were buying, when the price was high, to exhaust the supply. Basic economics says that, in a free market, this means the price must rise.
But we don't live in a world of free markets. Instead, we are living in an Orwellian 1984 double-speak world. Welcome to the world of Fed/PPT, where 2+2=5, blue is yellow, and black is white. All things are as they say they are, rather than as they really must be. Welcome to the world of a controlled business media, where the pundits will do anything and say everything to convince you to forget your math, and your eyesight. No, they tell you. It really isn't so. What you're seeing isn't the way it is. Believe, instead, what we tell you. We can do it! We have special skills. There is a new world order. We can make 2+2=5. Just give us your money, and we'll show you how!
But, let's return to reality. Right now, virtually no North American precious metals dealer can give you a firm delivery date on large quantities of silver. They have no stock to sell. This means demand is robust. On Friday, as the COMEX gold price was collapsing, the U.S. Mint suspended gold bullion coin production because it cannot source enough gold bullion! That could not happen if bullion banks were selling claims to real physical metal into the marketplace. Indeed, the Mint began rationing silver bullion coins two months ago, when it started having trouble sourcing silver bullion. Word from the Perth Mint in Australia is that it is taking weeks or months to take physical delivery of gold and silver, even though investors are already supposed to own that metal. Supposedly, it is simply being kept in the Mint's vault for safe storage. But, it is getting harder to take it out of "storage". Meanwhile, as previously stated, Indian gold and silver dealers, wholesalers and banks all have empty vaults. None of this can happen if demand is down, and supply is abundant.
We have a disconnect between reality markets and fantasy markets. The COMEX and London Metals Exchange are fantasy markets controlled by the big bullion banks. They must be engaged in market manipulation, because nothing can explain a big price collapse, in the midst of widespread shortages and robust demand. A group of big financial institutions, deeply enmeshed in the global trading system, and heavily involved in the gold and silver market, must be deliberately inducing temporary panic, for their own purposes. These malevolent characters will eventually be able to buy back their short positions at low prices, and, possibly, also, even collect a significant long position. The process is a continuing one, and hasn't stopped yet. On Friday, for example, the subsidy for leasing gold and silver was raised to very high levels.
It is obvious what they are doing. More important, however, is why? What does it mean? Well, the PPT bank executives are generally "people in the know" about financial events, before they actually happen, sue to close relations with regulators like the Federal Reserve, and FDIC. They folks are so desperate to cover short positions, that they are willing to spend a billion or so dollars, subsidize precious metal leases, to collapse the market, and destroy investor confidence. But, why? We know that the Federal Reserve, like other central banks, sees gold as a rival to the dollar. But, that's not enough, because they've never attacked precious metals with such ferocity as now, and, if the Fed were directly involved, they could probably supply real metal.
If something terrible is about to happen in the financial world, the losses that big banks would take on their precious metal short positions would put most of them into bankruptcy. Remember the words of Warren Buffett. Derivatives are the financial world's weapons of mass destruction. Precious metals futures short positions are highly leveraged transactions that could cost hundreds of billions if the price of gold were to suddenly explode.
We can guess that the main players here are big powerful Wall Street and/or High Street investment banks who work closely with the Federal Reserve, the ECB, and the Bank of England. These people are privy to the information needed to carry out a massive manipulation as described above. No one else is. Since most of the collapse happens on the COMEX, we can assume that most of the manipulation is being done by New York based investment banks.
Wall Street's investment banks control most of the world's gold and silver markets. They are also entrenched in the overall mesh of all financial markets. Making matters worse, because of the 1987 President's Executive Order on Working Markets, they are authorized to work together, and in conjunction with the U.S. Treasury and the Federal Reserve, to manipulate markets without fear of criminal prosecution. They know exactly where the stop-loss orders are, and how much flooding of paper claims for gold and silver would be needed to trigger them. They are, therefore, perfectly positioned to carry out the nefarious scheme I have outlines. The ultimate aim, of course, would be to destroy investor confidence, by collapsing the price for a few weeks. This would allow them to unload their own exposure at a very low cost, while the majority of market participants are temporarily shell-shocked, and in retreat.
As noted above, they are not using real gold or silver to do this. That implies that this particular attack on gold was not authorized by the Federal Reserve. They've never had any real silver and have used paper claims for years to manipulate that market. But, gold has often been supplied out of the U.S. hoards at Fort Knox, West Point, or the NY Fed. I suspect all three have had their gold hoard so heavily loaned and swapped out, that there is little or no physical gold left to play with. That's why the Federal Reserve has been pushing for the IMF gold sales. The vaults are probably already filled with IOUs from the likes of Goldman Sachs, JP Morgan, etc. Perhaps, that is why the Treasury Department lists total U.S. gold holdings as "gold and gold swaps", and refuses to disclose details how much consists of real gold and how much consists of swap IOUs (loaned out gold). But, anyway, the lack of physical gold probably implies that the Federal Reserve is not involved directly, because they probably still have enough to flood the market for a week or two.
But, it's not cheap to manipulate markets. It will probably cost over a billion dollars to subsidize the negative lease rates. The only logical reason to spend such a huge amount of money, is if you are going to get an even bigger benefit from doing so. They must be very worried about losing far more. Once again, that implies that some VERY bad economic news is about to be released. Skeptical? How much worse can the economy get? It can get much worse! So, what's in store? A series of huge bank failures, maybe? IndyMac collapsed two weeks ago. Are we going to see the collapse of Washington Mutual (WM)? National City Bank (NCC)? Someone else?
I don't know. But, I do know this. The FDIC will not have enough cash to make good on its insurance pledges, if they fail. The FDIC only has $37 billion left in its trust fund, after paying off IndyMac depositors. Between its two major divisions, WaMu has total deposits of about $204 billion. National City has about $101 billion. Could FDIC turn to the Federal Reserve for a quick loan? Not a chance! The Fed has its own problems. It has already polluted its balance sheet with some $450 billion in low value and absolutely worthless mortgage paper that its client banks wanted to get rid of.
Depositors might wait months for their money, while Congress is petitioned to approve the sale of more Treasury bills. This delay would be likely to cause other depositors to make a run on other banks, creating a domino effect. Then, more banks might fail. More bank failures will require yet more dollars, and cause more delays in making depositors whole. At the very least, the sudden issuance of $300 billion new dollars would stimulate massive inflation. Under such circumstances, gold could be expected to explode to the $2 - $3,000 per troy ounce range, within a matter of a few weeks or months.
Source: Kitco
Update: I just found out that Kitco, one of the biggest precious metals dealers in North America, just posted the following notice:
IMPORTANT NEW NOTICE: Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products. Please note that you can continue to place orders and prices will be guaranteed; however, cancellation fees will still be applicable regardless of the length of the delay. Consequently once inventory is received there may also be delays in processing and shipping by our vaults. (italicized emphasis added)
Sounds like a severe shortage to me
johnk
Aug 21 2008, 08:05 AM
Thanks Hula for posting this information.
Limited supplies of silver and gold is a real threat. Anyone that reads this information has to be prepared. If you have thought of collecting silver, Silver Snowball is the easiest way I have ever found.
This is by far the best program I have been in and I am sure most here will agree with me. It is great getting silver in the mail and not having to go to a dealer / store and wasting my gas and time driving around.
John
Spinach
Aug 23 2008, 01:23 AM
Oh yeah Kitco and all the rest.
News is there is going to be a first class action in September involving 60 companies against a couple of the big banks that have been ripping everybody off. Word is it's going to be bigger than Ben Hur - not before time.
Three cheers to them
Hula
Aug 23 2008, 12:31 PM
Yeah - this is really going to be something.
lotsofmoney
Aug 26 2008, 05:27 AM
This program really is great... I mean if you think about it, what is the actual product here? it's "Money". What could seriously be a better product than that!?.. and not only is the product money but it will grow on it's own and be worth more in years to come!
This is defiantly the easiest way to accumulate silver.. All you have to do is advertise your website and you get a extra 1 Oz of silver for every 2 people you refer.. The spot price on silver maybe a little down at the moment but people are still paying $20 - $25 each on Ebay for these 2008 Silver Eagles. Many are willing to pay a high price for these babies !
With Silver Snowball all members get a chance to earn silver at a very cheap price with no limits!
Hula
Sep 10 2008, 11:45 AM
Ed Freeman's latest update...
Well last month was interesting because for three weeks there were no Silver Eagles around anywhere. I managed to keep the silver coming to every member. It looks like the US Mint has started releasing a few coins at a time again and I got an order in so we should be good for as long as they keep making them. But since they could disappear from all dealer inventory again, if that happens I would substitute a different one ounce .999 silver coin and let you know if that happened. For now we still have Eagles and more are on the way but they sure are hard to find lately.
Member Jim Lynn sent me the following email:
Ed, below is an excerpt from an article entitled Why Silver; Why Silver Eagles, written by Israel Friedman in December of 2007. He is so spot on I thought you should see this...Jim ---
I’m going to tell you why silver is the best investment available today. The first question you have to ask yourself is why silver should be good for the future. Here’s what determines that;
Is silver a necessary metal? Are world stocks of silver lower than 5 years ago? Are world stocks of silver likely to be lower in 5 years? Is there a chance, at some point, to have a shortage in silver?
If the answers will be yes on those 4 questions, the probabilities are that owning silver will enrich you in the future.
Based upon this formula, the answers for gold are "no" for all the 4 questions, so in the future, we could see devastation for gold prices. And if gold prices hold, or move higher, the comparisons will even be better for silver. Take into consideration this point silver is a rare and strategic metal and industry cannot do without silver. Today we are left with a minimal supply and this can produce a worldwide shortage of silver.
Money cannot solve a shortage of material, only material can. When the industrial users come into the market for real material, the shorts will be destroyed. At that time we will have a bigger scandal than the subprime mortgage crisis of today. In my opinion, we need a shortage to put silver in a free market. When this occurs the real value will come and no one can predict what the price will be.
Mr. Butler has a modest view on future prices, and my opinion is more extreme. I can see very high prices. If I tell you the price you will need a seatbelt, not to fall from your chair. With this kind of opinion on future silver prices, what is the best single form for buying and holding real silver? Looking at my crystal ball, considering that a silver shortage is likely, and that silver prices will then reach or exceed the price of gold; I think silver Eagles are the best way to own silver. Why?
I can see silver prices so high, that the risk of imitation or phony silver coming to market will be great. Great price increases always bring out frauds and crooks. People will want to be sure they are buying the real thing. Coins are more difficult to counterfeit than paper instruments. At current silver prices, there has been no big incentive to counterfeit silver Eagles or other forms of silver. Because the US Mint produces silver Eagles, an added level of protection against counterfeiting is present. The US Government does not sit still on counterfeiting.
Because Silver Eagles are sold at a premium to the price of silver from the Mint to wholesalers, few if any of the 160 million regular silver Eagles minted and sold since 1986 have been, or will ever be melted for their silver content. The same with millions of more expensive Proof Eagles and commemorative silver coins issued by the Mint. Silver Eagles that are sold by investors are bought by other coin investors. Therefore, the silver used in Eagle production is taken off the market, in my opinion, forever.
But the premium on Silver Eagles will explode someday, because the Mint will stop making them in the future. When the silver shortage comes, and prices start to escalate wildly, the US Government will not wish to aggravate the shortage by continuing to take silver off the market. By then, the users will be screaming for relief from high silver prices and the mint will see this.
According to Mr. Butler, before the gold and silver Eagle program began in 1986, it was decided that, in order not to hurt domestic miners, only metal purchased from domestic miners would be used in the Eagle program, so government owned metal wasn’t dumped on the market.
But the Silver Users Association, fearing higher silver prices because of demand for Silver Eagles, lobbied behind the scene to change things to their advantage. They couldn’t kill the program completely, but the silver users were still successful. Gold was left unchanged in that domestic production was to be used, but silver was changed so that only silver from the Strategic Defense Stockpile was to be used for Eagles, until it ran out, which it did in 2001. Since then, the US Mint has had to buy more than 50 million ounces of silver to produce silver Eagles.
It will not take much convincing by the silver users to get the US Mint to cease production of Silver Eagles, when the silver shortage hits. So a premium could develop, if and when that happens. The same kind of premium that develops when an artist dies and it becomes known there will be no more new works of art from him. Now some may say, what kind of numismatic premium could develop on a modern bullion coin with a total amount in existence of more than 160 million? I say, a very big premium. The Silver Eagle is no ordinary coin. It is the world’s leading silver bullion coin. The US Government guarantees its purity and weight. It is recognized everywhere. In the years to come, people from all over, including India and China, will want to buy them. It is, in my opinion, the most beautiful coin in the world.
At any point in time, very few old Silver Eagles are available for sale in any large quantities. That’s because Silver Eagles are widely held by many small investors and coin collectors. Many are given as gifts and hold sentimental value. Grandparents, like me, set them aside for their grandchildren. Silver Eagles are not a trading vehicle, they are mostly held for the long term. The market relies on the fact that new coins from the Mint will always be available for sale, in order to satisfy new demand. But always isn’t forever.
When the shortage comes and silver explodes, the price will be so high that most people won’t be able to afford even a 100 ounce bar. Then, there will be much more demand for silver in one-ounce denominations, just like there is for gold today. That extra demand will put a bigger premium on the smaller pieces compared to bigger bars. The best small piece is the Silver Eagle and it will have the biggest premium of any other one-ounce choice. Also, it will be easier to sell in one- ounce pieces when prices are sky-high.
I think the premium on Silver Eagles will go to such crazy levels, that out of respect for Mr. Butler, I will not say a number, because he thinks it will sound too extreme. Instead, I will be very conservative and just say that in the future, when the silver shortage comes, the premium on Silver Eagles to the price of silver will be much greater than the total cost of an Eagle today. If that comes true, it’s like buying silver at today’s price for free.
To those who are inclined to own silver, buy Silver Eagles. To the gold investors, please change some gold into Silver Eagles. If anyone is lucky enough to buy, say, 1000 Silver Eagles or more, in 15 years it will be worth a sum that will shock you. Don’t think for one minute that I have a financial interest in selling Eagles. I don’t work for the Mint or for commissions. I write for love of silver and my friend Ted Butler.
Thank you for all you are doing to help people own silver,
Ed
Admin, Silver Snowball - Keeping the Silver coming to You
Hula
Sep 16 2008, 11:04 PM
More beautiful Silver Eagle coins arrived this week.
malexz
Sep 17 2008, 07:33 AM
Congrats Hula! I received my coins yesterday too - I really love these things. Ed actually had some Canadian Silver Leafs in stock which I requested - they are brand new 2008 coins which are amazingly shiny.
SSB has got to be one of the easiest and BEST programs anyone could join.
Cheers,
Mike
QUOTE (Hula @ Sep 16 2008, 11:04 PM)
More beautiful Silver Eagle coins arrived this week.
lotsofmoney
Sep 22 2008, 09:08 AM
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lotsofmoney
Sep 23 2008, 08:50 AM
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lotsofmoney
Sep 24 2008, 06:02 AM
Wouldn't you like to make a solid 100% return in some years from now?
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johnk
Sep 24 2008, 08:03 AM
Great looking banner!!! Haven't seen that one.
Get ready for the ride of your life - Silver is going to skyrocket in the next few months.
John
Hula
Sep 26 2008, 01:45 AM
I believe you're right, Jjohn!
High-O Silver!
lotsofmoney
Sep 26 2008, 07:14 AM
Thanks John!
Yes I think it will deff. sky rocket in the next few months as well. Lots of people are buying silver right now to protect themself from all this madness going on right now! Our Dollar is going no where, major corporations are collapsing! and they want our tax money to pay for this bailout!? Unbelievable!! You can't trust your cash anymore, anywhere! It's time to earn REAL money that they can't take from you and will only INCREASE in value!
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lifetime
Sep 26 2008, 12:23 PM
Does anyone have some good banners for Silver Snowball which they would be willing to share?
Thanks, Cynthia
Hula
Sep 26 2008, 12:44 PM
I made these SSB Banners. Everyone is free to use them.
lifetime
Sep 26 2008, 12:50 PM
Thanks a Bunch!
Cynthia
Hula
Sep 26 2008, 12:56 PM
You're very welcome.
Ed (admin) had a site with some graphics on it but I can't get the site to load.
lotsofmoney
Oct 13 2008, 09:36 AM
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lotsofmoney
Oct 15 2008, 09:54 AM
This is by far the simplest Pay plan ever! Get 1 Oz of silver for every 2 people you refer!
Simple as that with no 'gotchas'!
With your subscription you even get your own marketing website and built in autoresponder!
This is the best refferal program around with an outstanding product come take a look!
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