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Panic Starting To Set In?


KRO

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The Implications of Another Surge in ETP Demand

Global ETP holdings hit a record high of 1,207Moz on February 2, 2021. As impressive as this may appear, it does not tell the whole story. As the social media frenzy gathered pace in late January, demand for coins, bars and ETPs all jumped. For the latter, global holdings surged by 119Moz in just three days. This was concentrated in the iShares fund, where holdings rose by 110Moz. Given that most of this metal was allocated in London, fears emerged as to whether there was enough silver should demand continue at this pace.


At end-February 2021, 765Moz was allocated in London against ETPs, leaving 360Moz of potentially available metal. This suggests that had demand in iShares continued at the frenetic rate of late-January/early February it would only have been a matter of weeks before London’s existing stock was used up. While it would have been surprising to see ETP demand maintain this pace of buying, the concerns were still very real. This reflects both the time required for a refinery to convert non-Good Delivery (GDL) material into 1,000oz bars approved by LBMA as Good Delivery and then delivery of this by sea freight into London.

https://cdn.lbma.org.uk/downloads/Publications/LBMA-Silver-Investment-2021-Report-Final.pdf

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WallStreetBets started the craze to buy certain shares which were being heavily shorted. The most infamous is GameStop. 
I have been trading GameStop options so have followed this every day - all day. It is fizzling out now.
Off the back of this First Majestic Silver was also targeted. First Majestic was being heavily shorted - the price shot up briefly and then fell again. However the focus on silver resulted in the establishment of WallStreetSilver which is getting a lot of industry support and is going from strength to strength.

In the very early days of WSS they used to same logic and started buying the SLV. The number of SLV shares exploded upwards. It meant that millions of ounces are silver were allegedly deposited in SLV vaults over a few days. Impossible amounts of silver. Keener minds spread the word that the SLV is a scam and the impossible amounts of silver deposited proved that.

Now they are turned their attention to Sprott PSLV, Kinesis and actual physical.

Jim Forsythe posts the relative amounts of silver going into SLV and PSLV on Twitter.
Here is the latest tweet.

The COMEX and the LBMA are being cornered - the #silversqueeze is not going to stop and as some people have said for a long time now, silver is the Achilles heel of the banking cartel.
The Perth Mint was supplying the COMEX - now we have a scandal appearing that unallocated accounts have not got the silver. Kitco in Canada and the ABC in Australia have been similarly exposed that unallocated accounts do not have the silver investors thought they had. There is a run on silver and it is gaining momentum. #silversqueeze

 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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So - given the above information and assuming that you would pay VAT or similar on purchases of physical silver - should we be putting money into physical silver, or silver ETFs?

By the way, I'm not asking for any financial advice - just purely curious about the most sensible way to buy into this if you agree with the hypothesis that silver will move upwards in the reasonably near future.  Instinctively I would put the money into ETFs rather than physical, given the ease of trading in and out.

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2 minutes ago, Stuntman said:

So - given the above information and assuming that you would pay VAT or similar on purchases of physical silver - should we be putting money into physical silver, or silver ETFs?

By the way, I'm not asking for any financial advice - just purely curious about the most sensible way to buy into this if you agree with the hypothesis that silver will move upwards in the reasonably near future.  Instinctively I would put the money into ETFs rather than physical, given the ease of trading in and out.

PSLV not SLV etf wise. Pslv is backed by physical. but i would just buy miners as they go even higher!

SLV is rigged ponzi scheme run by a cartel of manipulative bankers who are wanakers!

Edited by HerefordBullyun
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15 hours ago, Stuntman said:

So - given the above information and assuming that you would pay VAT or similar on purchases of physical silver - should we be putting money into physical silver, or silver ETFs?

By the way, I'm not asking for any financial advice - just purely curious about the most sensible way to buy into this if you agree with the hypothesis that silver will move upwards in the reasonably near future.  Instinctively I would put the money into ETFs rather than physical, given the ease of trading in and out.

i would recommend ETFs for short term positions, for example when silver experiences its massive falls - because it usually bounces right back up, and no one is willing to sell during these times.

For the long term, its always better to get physical ;)   Miners are also good.

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12 hours ago, Tn21 said:

No harm in investing in the paper markets @Stuntman but having an allocation of physical is also advisable imo. 

Silver stock portfolio risk allocation would be in my book - figures dependent on risk tolerance

- 20-50% physical bullion in possession. 
- 30-50% large cap (and solid mid cap miners)
ideally dividend payers 4%+ longer term holds if ness. 
- 30-50% Royalty miners & ETF like GDX
- 20-40% juniors or at least the GDXJ ETF
- SLV, Shares or what ever paper.
Not over bothered with that one personally,
but would be handy if you had to travel or liquidate fast or trade short term. 

Edited by Stacktastic
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the allocation to miners above sounds good.

as a lazy option, that also performs well, and better than the GDX/GDXJ, I would recommend the Golden Prospect Precious Metals trust. Its an investment fund that is run by a savvy team that holds investments in middle-to-small miners across a variety of geographies and stages of development. They also dynamically shift between profitable/cheaper miners and metals. To round it off, its currently trading at a 14% discount to what its worth. Latest commentary is here: https://ncim.co.uk/wp/wp-content/uploads/2021/03/CQS-New-City-GPPM-February-2021.pdf

i swear I'm not a shill but i do have a holding in this trust. You get leverage to the gold silver price that is inherent with miners, plus extra leverage given the 14% discount, and another 20% leverage when the fund decides to use its overdraft to buy shares, which it did in March 2020. Its well diversified so you don't have to worry about the risk of a large holding in a single miner - for example Fresnilo & First Majestic have a large dependency on Mexico and its often baffling political situation.

Edited by Spark268
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Lots of interesting insight there.  Thanks, Forum hive mind 🙂

(Anyway, I did stick a bit more money into my gold and silver ETFs last night and I'm feeling slightly smug that the price of both gold and silver has risen today 😁)

I'll definitely look into that fund that @Spark268 has recommended above, once I get paid at the end of the month.  It's good to know about these different options.

I don't have much physical silver or platinum compared to my ETF holdings, although I do have more physical gold than ETF.

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6 hours ago, Spark268 said:

for example Fresnilo & First Majestic have a large dependency on Mexico and its often baffling political situation.

I agree completely. dodgy country especially if America has civil conflict or has other attentions/worries & financial issues to deal with. :) The US only has thier self to blame as they have coerced the cartels and pressed the politicians and people - it runs deep. digging up and potentially polluting and taking land grabs will add to that. 

Edited by Stacktastic
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Based in the UK - not worth even looking into silver from dealers due to the 20% VAT. Our old favourite European mint still sells govt. bullion at c. 18%, in stock items

Gold from UK dealers (not VAT) selling for c. 5% premium to spot, in stock

Some new silver "2nd hand" schemes are being introduced in the UK to avoid VAT - these are c. 30% premium and are generally always sold out

Find the odd bit of silver selling on Ebay for <50% premium but most of it is >50% - think some level of panic is sitting in indeed.

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On 15/04/2021 at 23:14, divebuddy said:

Based in the UK - not worth even looking into silver from dealers due to the 20% VAT. Our old favourite European mint still sells govt. bullion at c. 18%, in stock items

Gold from UK dealers (not VAT) selling for c. 5% premium to spot, in stock

Some new silver "2nd hand" schemes are being introduced in the UK to avoid VAT - these are c. 30% premium and are generally always sold out

Find the odd bit of silver selling on Ebay for <50% premium but most of it is >50% - think some level of panic is sitting in indeed.

Not so sure about any amount of shortage, I think the squeeze has made a lot more people aware of the benefit from owning physical silver & possible future problems with regards to world economics. Even flipping Claus Swabb says "there is going to be a depression worse than 1929" on the front page of the world economic forum website!! I have to say they have balls with this 'great reset' stuff, but tell anyone you know about this and they will think your barmy (and go and buy another car on 100% credit), but its right there in black and white!

If you follow people like Meneco64 he would make you believe that its happening tomorrow as his (and lots of other "Oh golly gosh the world is ending") channels run on fear, which is ironic considering they hate the system and especially the media, which do the dame thing as they are churning out mundane, repetitive and attention grabbing stuff to cash in on the Youtube payments to pay thier mortgages (pension craft's weekly "is there going to be a crash" is another one).  I stopped watching these sorts of channels, especially Maneco last year as I can find the information on Kitco from people that know what they are talking about, especially Michael. ;)

Good price here. I am waiting for under £16 spot silver or less & getting a few tubes posted to Poland to avoid VAT. ;)
It should happen when the world has thier vaccinations and are let out with false hope until the next session of house arrest. 
Having said that it went to £10 during the crash last year and then £14 not long after - world catastrophe & mines closed - go figure???
https://www.coininvest.com/en/silver-coins/britannia/1-oz-britannia-silver-coin-2021/ 

Edited by Stacktastic
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Really good listen from Chris Powell at the GATA. talks through about the metals manipulation in full and how the fed and Bullion banks are covering up the swaps.

YCC is already going on - but the fed havent publicy declared it! Theres a surprise.

 

 

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