Silver has been LT >10yrs gaining popularity among investors due to its upward price tendency and its relationship with gold prices, TFEX Managing Director Kesara Manchusree reported -
Investors in gold can employ similar trading strategies for both precious metals -
Moreover, they see more opportunities in silver because of its comparatively low price and high volatility -
TFEX’ specification for trading silver futures are similar to those for 10-baht weight gold futures.
This means the silver futures’ contract size is set at 100 troy ounces (approx. 3.1 kgs.), which are worth around THB90,000 (approx. USD3,000). Silver will be quoted in Thai baht (THB) per troy ounce, and its underlying price will be based on 99.9% pure silver.
BOTTOM LINES: Final settlement will be in cash when the contract expires, instead of physical delivery.
Final settlement prices for silver will use information from the same source as when gold futures are settled, i.e., London Bullion Market Association ( LBMA).
Final settlement will be in cash when the contract expires, instead of physical delivery
We're starting to see more clearly what's going to happen... the JPM 666 fedz printing presses fraud papers takes over with destruction of the PEOPLES fiatz$$ - but that won't change the fact that Silver has turned into a 'rare commodity' and in principle should have a much 'higher price consideration' as Ag is a very useful metal...at least we may come to understand better where we're heading with Ag -
Over the past several months, Hugo Salinas Price has trumpeted the growing "political movement" in Mexico to partially "re-monetize" silver - as a parallel currency to the current banker-paper (i.e. the peso). Indeed, commentator Ben Davies speculated that this factor alone would send the price of silver soaring higher, as yet another incremental source of demand (in a world where silver stockpiles are gone).
While no one has been talking about fully re-monetizing silver in any particular economy, I thought it was time that someone presented this scenario (at least in hypothetical terms) - as a means of countering the wave of nonsensical propaganda that devaluing one's currency was "the path to prosperity".
Since hypothetical examples are always most illustrative when we plug-in extreme parameters, let's assume that Mexico had already re-monetized silver - and had done so at $3.60/oz, a 600-year low for the price of silver.
With silver now at $36/oz (and soaring rapidly), the citizens of Mexico would have seen their money increase in value by a factor of ten, over the past 15 years.
Wise PEOPLE can do the same - get SILVER and Ag mining assets for your safety -
The wise PEOPLE will buy SILVER for all fiats at the bargain prices before it goes back to $800 ++++ take inflation into the last 500 year and you will get a more true Ag market value :-)
In the eyes of all the "experts" (telling us all to "devalue" our currencies as fast as we can), this would be seen as an economic catastrophe. E.g., - However, since we are "vacationing" in the real world, let's analyze what would really have happened to Mexico's economy had it re-monetized silver at less than $4/oz.
To begin with, while all other nations are gripped in an inflationary panic from exploding commodity prices (as expressed in worthless banker-paper), the citizens of Mexico would be laughing about commodity prices - such as paying (once converted to banker-paper) $11/barrel for oil (as of the up-to-the-minute price).
While holders of banker-paper have seen the price they must pay for gold soar by nearly a factor of six, Mexico's silver-holders would be buying-up gold at the equivalent of about $140/oz - slightly more than half the price of gold when it was at its multi-decade "bottom" in its own price. All other commodities (including vital food products) would be so cheap that Mexicans would be likely unaware that those prices had increased at all.
Naturally, the much cheaper prices for raw materials also equates to much cheaper prices for all finished goods.
Thus from automobiles to refrigerators to entire houses e.g.,
everything would be much, much cheaper for wise Mexicans.
Much like the holders of once-valuable Western currencies could strut around the globe "living like kings" once they had converted their currencies into the cheap paper of poorer nations, it would be the citizens of Mexico who would instantly become the world's new "kings".
"Hold on there!" protest the 'experts'. "You're conveniently leaving out the mechanics of trade in your analysis," they accuse. So let's take a closer look at international trade.
At first glance, we might have pause for concern. With Mexican labour now the most expensive/best paid on the planet, who will buy their goods so they can "afford" to buy all of those dirt-cheap imports?
First the instant arithmetic: with all foreign imported goods costing 1/10th their previous price, Mexico could see it's own exports plummet by 90% - and still be able to "afford" all they were buying before. The difference is that they would only have to surrender 1/10th as many goods (priced in their own currency) to acquire those products.
Furthermore, the stunted intellects of the "experts" leave them incapable of understanding the dynamics of such economics. While everything that Mexican workers buy would only cost 1/10th their previous amount, the wages paid out by employers would have remained the same (momentarily).
Obviously, Mexican employers would immediately start demanding wage-cuts from the workers. Note that if they cut the pay of their workers by even 80%, those workers would still be twice as affluent as they were before silver was re-monetized. Thus while there would be some grumbling, the overall arithmetic would still be extremely favorable for the Mexican worker - and even more so as his "falling wages" (in nominal terms) pushed him down into a much lower tax-bracket.
In other words, we have been brainwashed (by bankers) into believing that the only "mechanism" for ensuring some sort of (mythical) "economic equilibrium" is a world of permanent inflation structured into our economies (i.e. excessive money- printing of banker-paper) - This its all a total lie - by barbarian khazars banksters cults -
In fact, deflationary dynamics work much, much, much, much better than inflationary dynamics at creating economic equilibrium, since they produce sustainable economic parameters - rather than simply an endless succession of banker Ponzi-schemes, followed by horrific "crashes" as each one bursts.
Lastly, the need/benefits of "foreign trade" have been grossly distorted by the economic charlatans. Understand the concept (the only one) which validates international trade: Comparative Advantage. This refers to the fact that some nations (whether due to efficiency or natural advantage) can produce certain goods more cheaply than other nations.
The way that international trade is supposed to work is that (naturally) nations only seek to export goods which they can produce "more efficiently". In reality the incompetent clowns who run our economies have flooded global trade with ridiculously subsidized goods. There are too many negative implications of such folly to even list them all - let alone properly explain them. But here's a start.
First, much of what is exported today is sold at a net loss - this is known as "dumping". That is, when we factor in direct subsidies, indirect subsidies, and tax-breaks, there is less-than-zero economic benefit for every unit exported. Heavily-subsidized U.S. agricultural products are a perfect example of this phenomenon.
The U.S. government has showered the agricultural sector with lavish hand-outs, including squandering most of the U.S.'s "water reserves", (as usual) leaving little- to-nothing for the PEOPLE RIGHTS. Meanwhile, Ben Bernanke and Tim Geithner scheme to destroy the U.S. dollar even faster - so that the U.S. agricultural sector can sell yet more goods at a loss.
Because prices for goods are see-sawing back and forth erratically (due to the global markets being flooded with new banker-paper), there will be brief intervals where such trade can seem "profitable". However, converting the U.S. economy from a manufacturing power-house to a "banana republic" has been a pure money-loser - as evidenced by the overall collapse of the U.S. economy.
Thus, rather than strengthening our economies and raising our standards of living, much/most international trade is weakening our economies, and lowering our standard of living. Now let's return to the concept of "comparative advantage".
I submit that a nation which is able to buy oil, gold, base metals, food products and everything else at 1/10th the cost of other nations will have a pretty large "comparative advantage" in making and selling all sorts of finished products.
Even if that didn't occur internationally, such dynamics would certainly occur within the Mexican economy. While exports to other nations would certainly suffer, the trade-off is that Mexican manufacturers would be selling their goods to the world's most-affluent consumers and paying for their production inputs at 1/10th what non-Mexican manufacturers would pay.
Obviously the "comparative advantages" of trade within such an economy are enormous. Of course we don't have to view this scenario as totally "hypothetical". As I've written before, we have a previous precedent for a "high-wage" economy, with a "high-value" currency - and which also still managed to be a manufacturing power-house: the United States - E.g., USSIF - small wise can be BIG :-)
Indeed, the U.S. economy reached its all-time peak in prosperity at the time when the U.S. dollar was at its peak in value versus other currencies and when the wages paid to U.S. workers were at the highest level in global economic history.
Everything we have been told about a "low dollar" and "low wages" leading to economic prosperity for the U.S. (or any other nation) has been all 666 lies. In fact, each time the U.S. dollar takes another dip versus other currencies, the U.S. trade balance gets worse not better - as the soaring cost for imported oil grossly overshadows the increased revenues which this banana republic brings in from soy beans or cotton.
Worse still for this banana-republic, the corporate agriculture model created by the U.S. government polo-tics is an oil-intensive industry, gobbling-up vast amounts of limited global production. This means that we could never see an extended period of time where "profits" from agriculture exports actually paid for more oil imports. The U.S. has entrenched itself in an economic "vicious circle" which must lead to its own annihilation.
We have now reached the pinnacle of global, economic insanity. Intellectually-bankrupt 666-governments race against each other to see which can destroy its own currency the fastest - in order to prop-up an international trade paradigm which is losing money (on a net basis).
As is true in most facets of our economy, the optimal economic policies are to do the exact opposite of everything recommended by 666-elites "experts". They say "destroy our currencies", I say "make our money better-than-ever". They-666 say "trade or die", I say we must refuse to "die by trade".
To this point, I have only made my case by looking at a positive example of what happens when we increase the value of our currency (and then allow the natural economic advantages produced by that dynamic to flow through our economies). Some time in the near future I intend to present readers with the opposite dynamic: how destroying the silver-based monetary systems of the world's two most-populous economies was the real cause of "the Great Depression". by Nielson mostly - thanks - :-)
BTW. don't forget dd....USA / USSIF Ag National Treasure bargain play :-)
Yes Bullseye104, USA smart PEOPLE makes USSIF Ag REAL MONEY SAFETY4Y :-) the PEOPLES Ag playground treasure luv to park :-) our funfiatz$ @ USA / USSIF SAFETY :-)
Welcome to join the Ag~train to USA Silver Valley SAFETY :-) make Ag~Silver Valley your luv playground :-)
Please, pass Ag USSIF along to all friends >>>>>>>>>>>> TIA God Bless
Silver Extended to New 31-year Highs :-) Gold Surges to New Record Highs :-) by P. Grant March 24, AM
Gold has finally pushed to new all-time highs above the early March peak at 1444.60, led by hard-charging silver, which has traded above $38.00. The yellow metal had been fairly well contained for most of the week as silver extended to new 31-year highs. Heightening sovereign debt concerns in Europe, escalating political unrest in Syria and a magnitude 6.8 earthquake which hit Myanmar near its boarder with Thailand and China, have all piled upon existing concerns over Japan and MENA.
In line with expectations, the Portuguese parliament rejected the latest austerity budget late last night and PM Socrates fulfilled his pledge to resign. While Socrates is attending the EU summit in Brussels as the "caretaker" of the Portuguese government, this latest turn of events leaves the country essentially rudderless in the midst of a major crisis. Expectations are that Portugal will be forced to accept a bailout, like Greece and Ireland before it, which is likely to have further austerity measures attached to it anyway.
Just as eurozone leaders convene with the goal of preventing contagion, the collapse -- and likely bailout -- of Portugal has increased the Spanish risk. The euro continues to hold up well though, underpinned by sovereign demand and safe-haven bids. However, a collapse of the monetary union should not be completely discounted. As Warren Buffett told CNBC, "You can't have three or four or five countries that are in effect free-riding on the other countries. That won't work over time—they have to get their fiscal houses in reasonable harmony."
Political unrest is escalating in Syria as the security forces of President Bashar al-Assad reportedly fired on protesters in the city of Deraa, killing at least 15. This comes as coalition forces aligned against Libyan strongman Muammar Gaddafi executed their most aggressive bombings of the conflict, as rebel forces struggle to regroup. The ongoing, and arguably rising, geopolitical and military tensions in the Middle East and North Africa are expected to keep oil prices elevated for some time to come, creating risks to growth in the heavily energy dependent industrialized world. These risks to growth in turn increase the likelihood that Western central banks will keep their monetary policies loose, despite the simultaneous rise in inflation risks.
Workers in Japan continue their efforts to stabilize the stricken nuclear plant at Fukushima amid concerns about their health and the contamination impact. The Japanese disaster has prompted a global debate about the risks of nuclear power that may leave us even more dependent on increasingly scarce carbon-based fuels. This too will keep upward pressure on oil and gas prices, threatening to derail nascent economic recoveries around the world. Clearly the Japanese economy is exceedingly vulnerable, but so too is the US with a very well defined historical record of recessions being triggered by spikes in energy prices.
Grant is resident economist and a well-known analyst globally in the forex and precious metals markets.
Today the EE planned a raid in conjunction with the CME margin hike that they probably arranged in advance. This sort of thing would send most of us to jail. They get bonuses. Montanore, thanks good info :-)
Gold Is Getting Wild, Get Used To It :-) Ag frontrunning :-)
Experts rush to urge caution after an intraday plunge (hit) in gold and silver. They use words like outside reversal day and an unstable parabolic trend. An outside reversal day will be little more than "noise" within a secular trend in a few months, but fear is driven by the moment. As for a parabolic trend, yes, it's critical to correctly identify them. Is the current parabolic trend extended far beyond previous advances? Discipline says no.
Gold, London P.M. Fixed (Gold) and Z Scores from Primary Trend
As Jim writes, you must realize that the point of correctness in the article How & When that is true is his $5000 to $12,500 and not prognostications of the next 90 days. Discipline sees not only the trees but also forest.
Armstrong also suggests that the correction into June does not necessary have to be down. Corrections can be down, sideways, or periodically in a strong market a running (upwardly sloping) correction can form. The message from the market is most important here.
Commetary: Martin Armstrong just wrote an paper on gold titled, "How and When"
My question to this article is WHY?
Why in the world, if you believe that the gold price can go to $5000 and $12,500, as the article says, do you give a flipping damn about the next 90 days.
You must realize that the economic and political damage is already done.
You must realize that the mountain of OTC derivative paper is not going away.
You must realize that all the old Legacy asset, (broken OTC derivatives) demand to be adjusted at each market turn in order to maintain any sememblence that they are serious contracts.
You must realize that this adjustment means adding on new OTC derivatives.
You must realize that this means the mountain of OTC derivative weapons of mass financial destruction can only grow.
You must realize that it is not if, or not, QE will continue, it is what it already has done to the Western Economies that much higher gold prices will reflect.
You must realize this is not a business problem, but rather a debt problem as it applies to the gold price.
You must realize the monumental change in the Middle East is NOT positive for the West in any manner, shape or form.
You must realize that the change in the Middle East is from some form of government to Chaos.
You must realize that the beneficiaries of Chaos in the Middle East is Iran and Russia.
You must realize that the main product of the establishment of a no fly zone in Libya is to benefit the Rebels.
You must realize that the rebels are an unknown factor in Libya.
You must realize that a second product of the no fly zone is greater hatred in the Middle East for all things West.
You must realize that the Peak Production of Energy is behind us.
You must realize that the production of energy in chaos will be less than under some form of rule.
You must realize that this combination of monumental Middle East change and the Peak Oil means Peak oil is no longer a consideration for 10 to 15 years from now, rather it is now.
You must realize that the Angels, gold prices, are not simple talk but rather a method used by the great market mavin Jesse Livermore.
You must realize that on the next trip to $1444, that price will FALL to the long term bull market on gold.
You must realize that $1650, a place where gold will trade is so low as to be comical looking back from 2015.
You must realize that "QE to Infinity" is not a choice but all there is the left in the tool box of US Fed.
You must realize the truth of today's comment by Dallas Federal Reserve Bank President is true.
You must realize that what the President of the Federal Reserve Bank fear will occur.
You must realize no sovereign country needs to go broke.
You must realize they simply refer to QE as policy.
You must realize that it is the currency that breaks, not the country.
You must realize that the point of correctness in the article How & When that is true is his $5000 to $12,500 and not prognostications of the next 90 days. Jim thanks good info :-)
You must realize that it is the currency that breaks, not the country - THE REAL MONEY IS GOLD & SILVER FOR LAST 1000S OF YEARS -
USA Ag-bull breakout strong joined Silver Ag-bull breakOUT :-)
USA SChart TA TI P&F Alert Bullish Price 1stTarget Objective funfiat$1.25 per share :-) Note., P&F Point and Figure TI technical indicator is said to be the oldest TI and the most reliabel TI indicator :-)
ABOUT U.S. SILVER CORPORATION
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena Silver Mine, Coeur Silver Mine, Caladay Silver mine and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in US history. Total silver production from U.S. Silver's mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totalling approximately 14,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur D'Alene Mining District.
Only central bank intervention makes precious metals volatile, Turk tells King Submitted by cpowell on Tue, 2011-05-03 03:21. Section: Daily Dispatches 11:19p ET Monday, May 2, 2011
Dear Friend of GATA and Gold (and Silver):
Interviewed today by King World News, GoldMoney founder and GATA consultant James Turk remarks that the precious metals really aren't naturally volatile in markets but are made so by frequent and surreptitious central bank intervention. In any case Turk discerns a bullish flag pattern developing in the silver price chart. From Turk's lips to the Great Market Manipulator's ear -- and we don't mean Bernanke. An excerpt from the interview with Turk is headlined "Silver Forming Another Bullish Flag Formation" and you can find it at the King World News blog here:
Interesting to note that Global X Funds has increased the % of U.S. Silver shares in their GlobalX Silver Miners ETF. They now hold 5,390,072 shares of U.S. Silver (0.58% of fund assets). Silver Wheaton remains at the top 11.8% of net assets. Hecla is 4.5% by Silverton thanks good info :-) http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62672946
U.S. Silver Corporation (TSX-V: USA, US OTCQX: USSIF, Frankfurt: QE2) (“US Silver” or “the Company”) announced that year-end reserves have again increased in excess of production for the fourth consecutive year. Proven and probable silver reserves are 21.9 million ounces, an increase of 304,000 ounces after replacing production of 2.3 million ounces as detailed in the Company’s 43-101 filed on SEDAR.
The exploration program continues to be cost effective at adding reserves at modest expenditure levels.
In addition, the rate of reserve addition is expected to increase as the drilling program is expanded in 2011.
Since 2006, the Company has increased proven and probable reserves by 115%.
Reserve highlights include:
* Reserves up over last year, after producing 2,275,817 ounces of silver in 2010
* Copper-Silver ore reserves at 17.8 million ounces of silver, 5,520 tons of copper
* Lead-Silver ore reserves at 4.1 million ounces of silver, 42,790 tons of lead
* Total proven and probable ore reserves at 21.9 million ounces of silver
* Silver reserves up 1% over the December 31, 2009 reserve, up 115% over June 2006 reserve
* Copper reserves up 7% relative to the December 31, 2009 reserve
* Lead reserves down 14% relative to the December 31, 2009 reserve
Resource highlights include:
* Copper-Silver measured and indicated resources at 8.0 million ounces of silver and 2,380 tons of copper; silver ounces up 5%, copper tons down 5%, relative to December 31, 2009
* Lead-Silver measured and indicated resources at 0.7 million ounces of silver and 7,270 tons of lead; silver ounces down 10%, lead tons down 13%, relative to December 31, 2009
U.S. Silver retained Chlumsky, Armbrust & Meyer, LLC (CAM) to independently review and audit the reserve methodology, updated reserves, and updated resources, for the Galena mine complex.
The Qualified Persons who prepared the technical report for CAM are Fred Barnard PhD., and Steve Milne P.E. CAM’s technical report on reserves and resources for the Galena mine was prepared in compliance with the Canadian National Instrument 43-101.
The report will be filed on SEDAR.
Reserves and resources were estimated using metal prices of $16.00 per ounce for silver, $2.90 per pound of copper and $0.90 per pound of lead. All monetary values are in U.S. dollars. The mineral reserves and resource for the Galena mine complex are listed below.
* Mineral resources are exclusive of reserves * Mineral reserves have demonstrated economic viability whereas mineral resources do not * Cutoff grade used for reserves and resources was 9.0 opt Ageq * The cutoff grade is based on a cost of production of $143 per ton including mining, milling, administration, and general costs. In addition, costs for smelting, refining, and, transportation amount to $34 per ton * Silver equivalent value for reserves and resources was 1.1 ounces per ton silver per one percent lead, after adjusting for metallurgical recoveries * Silver equivalent value for reserves and resources was 3.6 ounces per ton silver per one percent copper, after adjusting for process recoveries * Process recovery for silver-copper ore is 97.4% for silver and 97.1% for copper * Process recovery for silver-lead ore is 95.0% for silver and 91.4% for lead * Veins are diluted, at actual grade, to a minimum mining width for reserves and resources. The minimum mining width varies from 5 feet to 9 feet depending on the mining method * 20% additional dilution, at zero grade, is added to reserves after diluting to the minimum mining width * The reserve and resource estimation is based on data and mining as of December 31, 2010 * Mine production rate of 200,000 to 201,500 tons per year, and 2.6 million to 2.8 million ounces of silver per year, was assumed for calculations for economic viability * In addition, copper production of 525 to 739 tons per year, and lead production of 3,660 to 5,926 tons per year were utilized * The reserves are sufficient for 8 full years of production * Measured and Indicated resources include 2,470,145 ounces at the Coeur mine. Inferred resources include 2,121,931 ounces at the Coeur mine.
Daniel H. Hussey, M.Sc, CPG, Manager of Exploration for U.S. Silver Corp, is the Qualified Person who reviewed this news release. He also supervised the updated reserve and resource estimation prepared by Galena mine personnel.
ABOUT U.S. SILVER CORPORATION
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in US history. Total silver production from U.S. Silver's mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totaling approximately 14,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur d'Alene Mining District.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward- looking statements---- information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
U.S. Silver Corporation Tom Parker, CEO (208) 752-0400 or Chris Hopkins CFO (416) 907-9539 or The Equicom Group, Patrick Piette (416) 815-0700 x267
Profitable Production from the Worlds Most Prolific Silver Belt
Wall Street banks -666-Goldman Sachs Banksters, Fed Reserve, The Rise of Financial kazars gyppy snake empire -
Gold Daily and Silver Weekly Charts - Fifth Margin Increase and Blythe Rampant 11 May 2011
A determined bear raid on silver took it down hard as the fifth of the margin increases by the CME went into effect.
I was grateful that I had taken profits and fully hedged my positions into Friday close because I was concerned about another sneak attack by the trapped princes of paper.
What next? I think the metals are correlated with equities here, despite the shenanigans. So we will have to see if this will continue or just resume as the important June delivery period draws closer.
WS financial system in which the fiats currency of fraud drives out honest price discovery and displaces productive activity, and large institutions game the markets on a daily basis with near impunity, while the public underwrites their steady gains and occasional but spectacular losses - the banksters cults snakes are paranoid cocainized maniacs -
Note.,,, Re: Max Keiser is Jewish Bro Quote [+] # So what, great... if you had followed Max advise some years ago you could be a rich Real Money Ag man today - or when you do gfy :-)
For those who missed it: U.S. Silver Conference Call
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