RE:RE:RE:This is why TA schools anyones Opinion/EgoThe real price of silver is what real people have to pay for it. Can you go anywhere to buy silver for less than $30? The only way would be to buy a 1,000 oz futures contract off the COMEX and stand for delivery in New York City of your 1,000 oz COMEX bar. Now, factor in shipping or travel expenses into your calculations and suddenly that 1,000 bar is costing you more than the $28 per ounce you paid for it. Oh, and IF you actually want to make that COMEX bar USEFUL, figure in fabrication costs, etc.
Wake up! The COMEX is used for two purposes: hedging by legitimate buyers or sellers of silver bullion OR for speculators/manipulators (i. e. JPM etal). Considering that a miniscule fraction of the silver being traded on the COMEX is for legitimate hedging purposes, the COMEX price is basically a fraudulent paper price. Paper silver is NOT real silver. The COMEX price is NOT the true intrinsic price of silver you pay when you buy silver in real life.
You keep focusing on FANTASY-LAND (i. e. paper) silver when true investors should keep an eye on the real silver price. WE are already at $40. YOU can live in your silver derivatives world if you like. Fast forward to a future point in time when the spreads between paper silver and real silver are over $20 an ounce. Will you continue to live in your fantasy?
Try walking into a coin shop, pawn shop or any seller of silver. Tell them YOU want to pay $28 because that is what the COMEX price is. They will laugh your butt out of the shop!! Better yet, walk into the grocery store and tell the store manager that you want to pay only $2 for that $4 loaf of bread because that is the wholesale price the store paid for it so YOU should get the same price. He will laugh your butt out of the store.
TIme to grow up and realize that in an economy, retaill and ask is always higher than wholesale and bid. If Keith N and the other miners want to sell their silver at depressed prices based on a derivatives market that is up to them. They are the ones losing profits because they have agreed to the manipulated lowball prices. I don't agree with it, but that is another discussion all to itself. The point of this discussion is that real silver has started to diverge from the fake, paper silver. You say COMEX is the real silver price, that is false. COMEX is paper silver, I am talking about REAL, physcial silver here.