Member Info for speedymeadie

Hi Droverman. Since the short position in silver at Bear Sterns was taken over by JPM they have been suppressing the paper price of silver at the same time as accumulating the biggest physical silver holding in history. At the moment silver is so undervalued and many "experts" have predicted a massive rise coming, i would be happy to see $50/oz taken out. ATB Speedy

Hi Monty. If you look back over my posting history i have always recommended "storage at place of purchase" It is OK to hold a small amount of sovs at home but the bulk of your holdings will be much safer and easier to liquidate if stored. As for reselling coins they will always attract a premium over spot as opposed to bars, ingots and jewelry. The Pure Gold Co sells at 3.5 to 4.5% above spot and buys back at 1 to 1.5% above spot. It is all down to negotiation and deal size. ATB Speedy

Hi Culpepper. I should imagine that the negotiators are at the top of their game. I is just my experience that tells me they will go on presented proven data and not on "a might be" ATB Speedy

Hi Naylor. In the real world i would agree but this is big business and the bean counters only go on published data not on a "might be " ATB Speedy

Hi Culpepper. I think it is all about information and how to use it. Calum and SD have a good idea whats there but officially it is a considerable amount less. ATB Speedy

Hi All. I doubt this bank run will get much worse in the short term. The powers that be will stem the flow with undeliverable promises and guarantees. The folks that understand what is happening have already loaded up with physical gold and buying more. Eventually the dam will burst and the fractional reserve banking system, fiat and the derivative market will come to a rapid end. ATB Speedy

Hi Viking. Well done on your Charlie purchase (that sounds a bit off) Storage is the best option. ATB Speedy

Hi Monty. Sovs or Brits makes no difference as long as they have not been used in jewelry or have not been in circulation. Most dealers will give you a small premium (1 or2%) over spot for mint coins. For larger holdings it is much better to store at place of purchase, then they are safe, good delivery status,mint condition and instantly liquid. ATB Speedy

Hi Ace. Can i borrow your nipple tassels i seem to have misplaced mine. ATB Speedy

Hi John. That is why GGP will see massive returns for investors, its all about the gold. Speedy

Hi Petersalkeld. GGP is in a sector with the highest risk. The big investors, pension, insurance funds have rules in place that forbids investment in this space until the uncertainty is gone. We, as PIs, have the benefit of self determination and can put our funds where we want. With great risk comes great rewards. I personally see GGP as minimal down side risk from here and unlike John am prepared to take a stake in the potential. ATB Speedy

Hi Trippy. The collapse started back in 1971 when the $ came off the gold standard, since then the $,£, Deutsche mark/Euro has lost 98% of their purchasing power as opposed to gold buying the same amount of oil today as it did then. In 2008 the financial crisis was pushed down the road and now it is starting to rear its head again. SVB is a minnow in the banking world but fear could start a run on other banks. Banks run a fractional reserve system, so if all the wealthy guys wanted their money at the same time it would not be there, first out wins and the slow to react lose all. Gold will get a bid but at the moment the POG is under "control". ATB Speedy

Hi Monty. You are correct and banks can wait for bonds to mature but that will lead to a guaranteed loss (negative real rates). A run on a bank leads to runs on other banks through fear. When this happens banks need liquidity, so sell assets that are in or out of the money. It will be interesting (scary) to see if the contagion increases, bank losses were around 6% last week so keep an eye on bank stock, as that will tell you what is happening. MSM will say all is OK but the market will reveal all. ATB Speedy

Hi TT. Good report, lets hope the economists around the globe start to understand what is happening. FIAT is toast. Rising rates = lower values for bonds, banks assets are mostly bonds. To stem a bank run the banks need funds to pay out so sell bonds at a loss to cover. The rise in rates normally see a substantial fall in the POG, this time it has not. When the rates are lowered, to protect the debt ridden system, inflation will rise and gold/silver will fly. There is no profit for gold holders in this scenario, just wealth preservation, and investing is mainly about not losing. This run on banks could get out of hand and the flight into real assets will see the supply and demand metrics present gold holders with substantial profits above inflation. We have no upto date COT reports again so it is hard to read positioning in the paper gold markets but i see a short squeeze coming due to the POG being oversold going into this crisis. ATB Speedy

Hi Monty. Using what we know, what value (in $s)do you put on Telfer with a 100% GGP ownership

HiMonty. Can you add some calculations to your "great value" ATB Speedy

Hi Freddie. Here is an option for you think about.
The financial position for buying/ not buying Telfer.
We have agreed cost +10% for processing. With 6million ozs and AISC @ $600 our total costs approx $360million.
If we buy Telfer (forced on us if we buy 100% Hav) just the decommissioning costs outway the benefits. Therefore Telfer has a negative value and that can be used to negotiate a lower price for the 70%. What would you do? ATB Speedy

Hi . What do you suggest he does to enhance the SP. If you send your ideas in an email to SD i suggest a NDA for such market breaking input. ATB Speedy

Hi Eastender. Long time no see, look forward to meeting you again at The Bull 4th April.
Hi Ace. I am clean out of stuffed toys will a cupie doll do? ATB Speedy

Hi All. Massive losses for USA banks yesterday, wrong footed by rising rates and falling values for treasuries. Depositors are withdrawing funds at a unsustainable rate. Poor old JPM took a "relatively" small 6% hit. The question i would ask is where will the withdrawn funds end up? Answers on a post card please. ATB Speedy