pahunkboy
Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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YOU MUST WAIT 60 DAYS FROM THE TIME YOUR CHECK CLEARS BEFORE CHECKING THE STATUS OF YOUR ORDER. IT IS NOT OK TO CALL AND CHECK STATUS OF ORDERS ON THE PHONE!!! IF YOU NEED
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from a bullion site above.
Here is the fundamental difference between the monetary metal, gold, and other commodities. Backwardation will pull in stocks from the moon as it were, if need be. The cure for the backwardation of any commodity is more backwardation. For gold, there is no cure. Backwardation in gold is always and everywhere a monetary phenomenon: it is a reminder of the incurable pathology of paper money. It dramatizes the decay of the regime of irredeemable currency. It can only get worse. As confidence in the value of fiat money is a fragile thing, it will not get better. It depicts the paper dollar as Humpty Dumpty who sat on a wall and had a great fall and, now, “all the king’s horses and all the king’s men could not put Humpty Dumpty together again.” To paraphrase a proverb, give paper currency a bad name, you might as well scrap it. Once entrenched, backwardation in gold means that the cancer of the dollar has reached its terminal stages. The progressively evaporating trust in the value of the irredeemable dollar can no longer be stopped. Negative basis (backwardation) means that people controlling the supply of monetary gold cannot be persuaded to part with it, regardless of the bait. These people are no speculators. They are neither Scrooges nor Shylocks. They are highly capable businessmen with a conservative frame of mind. They are determined to preserve their capital come hell or high water, for saner times, so they can re-deploy it under a saner government and a saner monetary system. Their instrument is the ownership of monetary gold. They blithely ignore the siren song promising risk-free profits. Indeed, they could sell their physical gold in the spot market and buy it back at a discount in the futures market for delivery in 30 days. In any other commodity, traders controlling supply would jump at the opportunity. The lure of risk-free profits would be irresistible. Not so in the case of gold. Owners refuse to be coaxed out of their gold holdings, however large the bait may be. Why? Well, they don’t believe that the physical gold will be there and available for delivery in 30 days’ time. They don’t want to be stuck with paper gold, which is useless for their purposes of capital preservation. December 2 is a landmark, because before that date the monetary system could have been saved by opening the U.S. Mint to gold. Now, given the fact of gold backwardation, it is too late.
to read more -->
http://news.goldseek.com/GoldSeek/1228499200.php
Certainly we are in new uncharterred water. Silver eagles are a good way to start. There is a disconnect
I browse ebay and things are on a uneven level
Pernar in Singapore calculates that the premiums over spot of 1-ounce U.S. gold bullion coins sold via the Internet auction site eBay have risen to 25 percent, compared to 11 percent in August. You can read about it at his Weblog here: http://blog.cyrrion.com/?p=4
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RE: Silver price manipulation 2008 - 
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