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rklc, might need to be patient... i hate being patient... patience usually ends up in me holding bags LOL
picked up ivit at 3's, will see where it leads... whatchu think OG?
got in hmit at 7's, out at 9's... might regret it later, but green is green :)
rklc........ nice! wish schwab would let bigger orders thru... 999999 is just lame lol
rklc 5s up, 35M so far
rklc that's what i was thinking too...Looking at 60 Min chart, MACD is turning up, along with, well... everything. lol
Yep! good lookin'!
gl today!
rklc seems to be counting down to liftoff... .0004s still available
On ASFX, when discussing the retracement, are you talking from it's HOD at .08, or from it's closing price? just curious, thx!
slapped mine at 3, got'em first thing this am! nice to see 4's up already... aglv seems to move easy!
aglv.... got mine this AM, rdy to roll!
The Tiny $0.001 Trillion Silver Market
(Millions, Trillions and Billions, Oh My!)
Silver Stock Report
by Jason Hommel, September 25th, 2009
The Silver Market is small. Very small. I don't think people quite understand how small it is, nor understand fully the implications, meaning how much higher silver prices must go as the market grows to accommodate future silver buyers.
Confusing matters is that the terms million, billion, and trillion mean different things, in different nations, and other nations also have different notations for how to write numbers exceeding 1000. Furthermore, most Americans are also unfamiliar with the terms, since most people don't use these terms in daily life. Who needs a billion french fries? But you do need to understand the numbers, in order to interpret political events, such as the amounts being spent by Congress.
Here are the American conventions, which I use in my writings. A thousand is written as 1000 and is notated with commas as 1,000. In America, we use a comma after every three zeros, starting from the far right, so every comma signifies another multiple of 1000.
A million is a thousand thousand. 1000 x 1000 = 1,000,000, also written as a million.
A billion is a thousand million. 1,000 x 1,000,000 = 1,000,000,000 also written as a billion.
A trillion is a thousand billion. 1,000 x 1,000,000,000 = 1,000,000,000,000 also written as a trillion.
A quadrillion is a thousand trillion 1,000 x 1,000,000,000,000 = 1,000,000,000,000,000 also written as a quadrillion.
Knowing that, we can now interpret the following key figures:
The annual Federal Budget these days is about $3 trillion, which can also be written as $3000 billion, or $3,000,000 million, or $3,000,000,000,000.
http://en.wikipedia.org/wiki/United_States_federal_budget
World annual silver production is about 600 million ounces. World annual silver investment is about 50-100 million ounces. All of mine production, and more, including recycling, is consumed by industry, leaving very little left over for any investment.
At $16/oz., x 75 million oz. = $1,200 million, or $1.2 billion, or $0.0012 Trillion.
Again, let's compare:
US annual government spending: $3 trillion
World annual silver investment demand: $0.0012 Trillion
Can you say, "The US government is spending way more than exists in the entire world?" I can. It sounds funny to say it, but I understand what I mean when I say it.
But that's only silver, some will protest. But adding gold to the mix does not help. Watch.
World annual gold mine production is 2500 tonnes, which is (x 32,151 oz/tonne) is 80.3 million ounces. At $1000/oz., that's $80 billion dollars, or $0.08 Trillion.
See, not even all the gold in the entire world's annual production would help the US budget. Gold would have to increase by a factor of 3000 / 80, which is 37.5 times, in order for the entire world's gold production to equal the US government's annual budget. See, gold will go way above $37,500/oz. by the time this bull market in gold is finished, because there are other people in the world who want gold in addition to the US government.
China wants gold. China has said they want $80 billion worth of gold. China has $2130 billion to spend on gold, or $2.13 trillion of foreign exchange reserves.
http://en.wikipedia.org/wiki/Foreign_exchange_reserves_of_the_People%27s_Republic_of_China
If China tries to buy a mere $80 billion of gold within one year, the gold price will likely head to $1500 to $2000/oz. this year. But China does not want to push up the price of gold to make it double in price. If they do, the value of the remainder of their $2130 billion will be cut in half.
Too bad for China, they have no choice. The value of their paper money will be cut by 95% or more anyway, even if they do nothing, as other nations, besides the US and China, also want gold. So it will come down to the reality, for everyone, that some gold is better than no gold! And silver, of course, is always better than gold, because silver will increase in value much faster!
China also wants their own people to buy silver!!! !!!
Sorry I'm not on enough to chat more, but to answer one of your questions... Jason's shop is in Rocklin, CA, a part of the urban sprawl that constitutes sacramento... nicer area though...
owvi .0017 +13% almost 24M served
The Stealth Gold Bull Market is Back
(But Americans Love Silver!)
Silver Stock Report
by Jason Hommel, September 17th, 2009
One trouble with Americans is that we think we are the center of the world. We do have about 5% of the world's population, and use up about 25% of the resources. That's mostly a function of being significantly "wealthier" than the rest of the world. But that's mostly paper wealth. Will it last? Only if we buy at least 25% of the world's silver and gold. Do we? Not in gold, but we do in silver! Let's get to the facts.
Worldwide, the world buys about 80 times as much gold as silver, for investment. The world annually purchases gold worth $80 billion (about 80 million oz., or 3500 tonnes). If American-led Central bank selling did not help meet demand and add to mine supply, then the gold price would go up faster than it already has. Remember, central bank selling is a manipulative and unsustainable supply source.
The annual silver investment market is only $1 billion. Annual production is about 600 million oz., but only about 50-100 million oz. is purchased for investment.
These figures show that the world is buying 80 times as much gold as silver, for investment.
American investors seem to buy more silver than the rest of the world. Why? I would guess that we seem to know more about the supply/demand statistics, and know that the silver market is much smaller, and know that the silver/gold ratio shows that silver is cheaper. Maybe it's because we recently used silver in our currency as late as 1964, and many other nations don't have such a recent history of using silver as money?
Sales of American Gold and Silver Eagles show that Americans are purchasing about only 3 times as much dollar volume of gold Eagles as Silver Eagles per year.
Production figures:
http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sales&year=2009
Show that for 2009, from January to September, the US Mint has produced:
903,000 Gold eagles, and
19,364,500 Silver Eagles.
At an average price ratio of 60 to 1, at about $15 for silver and $900 for gold, we have dollar volumes of:
Silver Eagles: $290,467,500
Gold Eagles: $812,700,000
The last figure, the ratio of 812/290 shows that Americans buy about 2.8 times as much dollar volume of gold Eagles, than Silver Eagles. That's dramatically different than the world ratio of 80 to 1, and thus, heavily skewed towards silver!
But do Americans buy 25% of the world's gold and silver? Not in gold. Gold Eagles are about 1/100th of the overall world gold market. Silver Eagles are just over 1/5th of the world silver investment market (20/100 million oz.!)!
Wow, I never realized that American investors favored silver that heavily. Congratulations, America!
And many silver buyers buy silver other than in Silver Eagles! So, perhaps Americans are buying up to 1/2 of all silver investment demand. Fantastic job America! That implies great news for the future wealth for America.
Unfortunately, the $300 to $600 million that Americans spend on silver is only a tiny, tiny, tiny fraction of the overall investable wealth of Americans. If the word gets out about silver to the majority of Americans, silver prices have no choice but to explode. Imagine if Americans spent ten to one hundred times as much money on silver each year! It's possible, and perhaps even likely, as the truth about every thing tends to be exposed and get out at some point.
Nevertheless, given current national actions, I tend to think that the average coin shop would carry 3 times as much gold as silver, to match overall market demand.
But knowing what we know about silver, we do the opposite, fortunately, for our own future capital gains, and for our customers.
We carry about 3 times as much silver, as gold! And fortunately, our customers buy about the same dollar volume of silver and gold.
Americans are not driving this bull market in gold. In a sense.
What I mean is that Americans are not buying enough gold in significant quantities, as Gold Eagles are 1/100th of the gold market. But rather, American politics, which requires massive printing of US Dollars (Sorry, Federal Reserve Notes), is, indeed, driving gold prices higher.
Americans are not buying enough gold to drive gold prices up.
Americans, over the past decades, have elected politicans whose policy decisions require printing more paper money, and that's driving gold prices up, as other nations see our foolish action of priting up too much money, and other nations are wisely buying gold.
Since I have started dealing silver and gold, maybe I have better observations about the silver and gold markets, and perhaps less time to write about them.
Over the last 6 weeks, we have bought and sold about the same amounts of precious metals to and from our customers, and we have accumulated a bit more gold from the public selling gold for silver. We have not had to order very much from our wholesalers, or other mints. Enough people been cashing out their silver and gold, enough to balance out our trade.
Americans buy less gold than other nations (1/100th of the world market?), and much more silver (40% of the world market?), but could still buy much, much, much, much, much, much, much, much, much, much more of both. This bull market in precious metals is barely getting started.
I have never sold any of my own silver (silver from my "sock drawer", shipped through the mail, placed on their nucleo exchange) in that way, so I am unfamiliar exactly with that process.
the short version is this:
You can sell to them directly, or buy from them directly on their catalog portion of the website.
You can buy or sell various weights, mints, metals using their nucleo trade. It is exactly like a stock exchange with bids/asks, basic price charts, etc. This is what I'm most familiar with. I have been flipping on that for about 6 months... Only like 3 times since it's a "slow" market, but it has worked well trading the channel from like 12ish to 17ish, depending on which variety of silver you are trading. only 1% transaction fee which I think is quite reasonable.
I have even taken physical delivery of some of the nucleo silver I purchased... shipping seemed to average out to about $.50 per ounce, probably based on shipping distance. They are in TX.
Anyway, I wish I got kickbacks for making referrals :) cuz I recommend them to everyone I know who has an interest in silver. oh well... give it a look, see what you think.
bulliondirect.com
I am not very knowledgeable about PM stocks... sure I know the ETF's, but I'd like to hear about your thoughts on specific juniors, explorations, etc.
Can you specify what kind of exit strategy are you thinking about.... exiting out of holding US treasuries/debt, or exiting something else perhaps?
As an aside, I sold some physical 1 oz'ers & 10 oz'ers on Bulliondirect yesterday for just over $17 that I had bought at 13 and 14... looks like I might have sold prematurely. :) Doh!!!
You're probably right. That IS the unknown at this point, I suppose, but it's the unknowns that can have the best payoffs. :)
Would love news... thinking it will bring the spotlight back to us... we are due for it!
I hear what you're saying, & kinda figured the same thing, until I read the bottom of the WHO's own checklist:
http://www.safesurg.org/uploads/1/0/9/0/1090835/surgical_safety_checklist_production.pdf
They encourage additions and modifications to fit the local practice. this kinda shot down the theory of "standardization" of only one checklist, imo... so that left me to wonder, where do we stand exactly? As I said, the tablet PC seems to be the most "modern" idea as many hospitals are going "paperless" with electronic charting... it just could be awhile to get that one in a revenue generating position...
anyway, just trying to get a feel for our future now... thx!
Ok, I need your thoughts...
I am in for 2 mill, bought at .0005 and .0002 to average down. so I am a stuckholder like most of the rest here...
Since the momo has passed, I figured I'd actually do a lil DD on my "investment". lol
I work in a hospital, not in a surgical suite, but in oncology. I have passed by the double doors to the OR, with a window in each door, and briefly seen what I excitedly believed to be one of our products. It was the white background, red and green boxes, checkboxes, lists, etc... everything we have been shown and what we expect our product to look like.
Imagine my disappointment when I found out it was something our hospital came up with on its own. It took the cues from many cutting edge hospitals such as these:
http://www.safesurg.org/modified-checklists.html
and made its own checklist.
So, I guess my biggest concern is how will IMJX make hospital admins pay even $500 for something they are able to make themselves, simply taking cues from bigger, better hospitals that have produced their own.
I guess I could see the truly digital, tablet PC version being marketable (which isn't available yet, per the website), but if we're just selling signs at the moment, what's the real "IT" factor that makes us a necessity in every surgical suite?
Another form of inflation to drive up PM prices, perhaps???
"Late on a Friday in August, when most people around the world were not looking, the international monetary system, in an unprecedented move, evolved. We were notified by the IMF of the following:
Aug. 28 (Bloomberg) -- The International Monetary Fund said it today pumped about $250 billion into foreign-exchange reserves worldwide, acting on an April call from leaders of the Group of 20 nations to boost global liquidity.
Countries will be able to convert the money, to come from so-called Special Drawing Rights, into hard currencies through “voluntary trading arrangements” with other members, the IMF said on its Web site today. The SDRs are the institution’s unit of account based on a basket of currencies.
The allocation, approved by the IMF’s board of governors earlier this month, will not increase the fund’s pool of money available for lending, the IMF said. “It will, however, provide members with an additional method to obtain hard currencies.”
Another smaller reserves allocation of about $33 billion will take place Sept. 9 and will be limited to members that joined the lender after 1981, such as countries from the former Soviet bloc, the IMF said.
About $110 billion of the total allocation will go to emerging-market and developing countries and $20 billion to low- income nations.
“A number of members with sufficiently strong external positions” have already said they are ready to set up or expand existing arrangements enabling the sale or purchase of SDR's, the IMF said. The lender typically acts as a broker and arranges transactions between parties at no cost. (End News Release)
What this means is that for the first time in history we have a world central bank capable of creating money out of thin air. No longer does the IMF need to borrow money with a vote of all members plus the consent of the US congress. It can simply create whatever amount of money it needs through the creation of SDRs. Not for itself, mind you, but for the world. The SDR has been around since 1967, but never as a convertible asset. That changed Friday, August 28th, 2009. The SDR has quietly mutated.
The decision was made August 7th, in an IMF vote. According to the IMF "global reserves will increase from just USD33bn to USD283bn or about 4% of global reserves excluding gold. In addition, the IMF will start issuing SDR notes later this year (China, Brazil and Russia will be the main buyers). These SDR notes can be counted as part of currency reserves and hence SDR assets could reach 5% of total reserve assets later in 2009 and possibly surpass GBP, JPY and CHF in importance as reserve assets." This is a foot in the door.
The prospect of this happening was covered in my article, The Making Of An International Monetary Crisis:
"The spectacle of billions of inconvertible dollars frozen in the vaults of central banks has brought on cries of condemnation over the dollar’s credibility as a reserve currency. The Policy Maker’s theory of a stable yet artificially ever-expanding reserve currency has failed.
The "solution" to the problem (if the Policy Maker remains consistent) will be to evolve the international monetary system from a system in which an ever-expanding reserve currency provided the world with credit and liquidity, to a system in which an ever-expanding reserve "asset" will fill that role. Like the dollar, this reserve "asset" will amount to circulating debt, i.e. something owed rather than something owned. It will be a non-market instrument, deriving its acceptability from government cooperation and decree, "immune from the laws of the free market and outside the reach of greedy speculators."
Where will this "asset" come from? Under the Bretton Woods system, dollar reserves were furnished by the U.S. central bank. Both the bank and the "asset" failed to provide sufficient stability. The next step is to create a world bank (a larger bank of last resort) controlled by an international organization (the IMF) with the power to create a new "asset," independent of any single government’s monetary policy.
As a supplement to gold and like the dollar before it, this "asset" should be a credit instrument. Unlike the dollar, it would have the backing of an entire world of central banks. The "asset" should be ever-expanding and should provide both liquidity and stability." That asset is the SDR and the potential became a reality this weekend. (For a further discussion of creating international reserves and the SDR, see my articles The Making Of An International Monetary Crisis and Bretton Woods 1944-1971, under "Other articles" by Paul Nathan).
As of this weekend, the world is 250 billion dollars "richer". No products were produced. No taxes were raised. Not even one cent was borrowed. The IMF simply created a bookkeeping entry on behalf of those countries it felt worthy of receiving additional reserves. The reserves, SDRs, are a claim to "hard currency". The hard currency will be provided by those with "sufficiently strong external positions”, in other words, surplus nations.
There is no reason for surplus nations to part with hard currency, save two, that I can think of: Altruism or Power. And in my opinion they are having a go at the latter. My read on this is that the surplus nations have just made an end run around the United States and the US Congress who have veto power over IMF decisions. Surplus nations can now provide “voluntary trading arrangements” with non-surplus (importing) nations with the IMF as "broker". This sounds like a mechanism for the surplus nations to provide buying power to importing nations at the expense of us all.
The ability to inflate has now been augmented. It has transcended national boundaries from national central banks to a world central bank. This "new" bank now has the power to create money. Inflation is no longer limited to one currency but will affect all paper currencies in the world. We now have the prospect of a synchronized international inflation. It's not enough that citizens throughout the world had to keep a keen eye on their nations central bank, now we all need to keep an eye on the IMF.
The "IMF's Board Of Governors", a group never elected to office, unknown to most, and accountable to no one, has now gained the power to create new claims on production without legal limits or oversight from any regulatory body. All it need do is vote for more SDRs.
Given the "announcement in the dead of night" tactics just employed, I suggest we all sharpen our eyesight. This development doesn't change the inflation outlook for the next month or even for the next year. But make no mistake -- the "powers that be" just took the fiat system and the inflation threat to a new level."
http://www.kitco.com/ind/Nathan/aug312009.html
thx for the heads up!
anyone else using Scottrade that can't place an order for RVGD online?
idta .003! gettin jiggy, whut whut!
It's BEEN time to move up for a while lol.
5 China Bombshells (from JH's recent newsletter)
1. China announced their central bank increased gold holdings from 400 tonnes to over 1000 tonnes.
2. China announced they might stop exporting all "rare earths". China produces 95% of the world's supply of rare earth metals, which are used in all sorts of high tech products, especially hand held electronics.
3. China announced that they wanted their people to buy silver, because it's cheap.
IDO= Israeli Dept. Of ? :)
I am familiar with TB, not very well though... just recognize him as a silver bull, and outspoken as such... doesn't hurt my feelings any! :)
Re: JH, I was just wondering how 'versed' you are in the silver markets, your interest level, who you've heard of, read, follow, etc... nothing specific about JH really...
As an aside, my folks visited his new shop when he first opened and picked up a 100+ ounces to add to their little hoard. Said he was very friendly and was a pleasure to meet... stayed and chatted for some time, from the sound of it.
I understand what the silver bulls say about buying "physical" PMs, however I do trade SLV as it is really the only way i know of trading a PM in my 401k plan... hate for my 401k to get thrown away in a mutual fund that hinges on paper going up... at least SLV gives me the illusion of still trading metals, just easier...
I also trade physical on Bulliondirect.com... if you're unfamiliar i highly encourage you to check out the site... I tend to buy and sell there as the trends dictate... holding some ounces there, waiting for the prices to hit high$16's or low 17's then sell, wait for a retrace... seems to be the way it goes lately...
also have a small hoard myself of physical... will never get rid of it unless i need it to buy bread or something. ;)
Hey stack, Do you follow Jason Hommel's stuff/writings? Whatcha think of his standpoint of returning to a silver/ PM standard?
BTW, nice idea for a board!
IDOI accumulation heading up all day long so far on the 10 min chart
IDOI accumulation heading up all day long so far on the 10 min chart
IDOI goin back in the right direction!
Appears to be a new article in a trade mag, articulating the aug. 20 PR... ah well...
daily indicators starting to turn, stochs turning up out of oversold, rsi climbing beyond 50, acc/dist still near peak, looking good for next week. 90's by midweek??
BIC is pushing this for next week, load now!
kk, thx! same here, but my "everything" is surely smaller than yours I saw posted... :) still, $$ is $$!
11's??? WTH? i been robbed!