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It is amazing to me the number of scams that keep popping up over and over....

http://www2.wspa.com/news/2012/mar/22/3 ... r-3411539/

In my opinion one of the biggest scams are the folks selling ETFs without it being 100% backed by the physical. Still they are sold everyday like candy and people are buying them like crazy.

I hope it turns out well but my gut tells me it want...

The trouble with both scams and money flows into ETF's is that it diverts REAL investment into physical, which would cause prices to skyrocket. Money that is siphoned AWAY from physical plays right into the hands of those who wish to continue price suppression schemes... this being one of them. If not for unbacked silver ETF's, it is likely the current prices would be far higher.

beauanderos wrote:The trouble with both scams and money flows into ETF's is that it diverts REAL investment into physical, which would cause prices to skyrocket. Money that is siphoned AWAY from physical plays right into the hands of those who wish to continue price suppression schemes... this being one of them. If not for unbacked silver ETF's, it is likely the current prices would be far higher.

Ray you have stated several times your investment into several of the ETF's. What do you have to say about that?

I can't speak for Ray, but I would respond in two ways.

1. All ETFs are not created equal. While I have serious doubts about SLVs physical backing, I have more confidence in other funds like Sprott's. Therefore I invest in PSLV and avoid SLV.

2. I will also play the market with funds like AGQ. They, at least, are honest about the fact that they trade in options contracts and not physical. Some investors may play the market by trading these funds and use their capital gains to buy physical.

Copper Catcher wrote:It is amazing to me the number of scams that keep popping up over and over....

http://www2.wspa.com/news/2012/mar/22/3 ... r-3411539/

In my opinion one of the biggest scams are the folks selling ETFs without it being 100% backed by the physical. Still they are sold everyday like candy and people are buying them like crazy.

I hope it turns out well but my gut tells me it wont...

Regrettably so. Miserable creature in the cited link probably thinks he's the local answer to Corzine or Madoff, only better for not behind bars.

Filth.

My revered and late grandfather had the right of it... Hard money. Gold for the government treasuries, silver and copper for circulation.

SSGOP

theo wrote:I can't speak for Ray, but I would respond in two ways.

1. All ETFs are not created equal. While I have serious doubts about SLVs physical backing, I have more confidence in other funds like Sprott's. Therefore I invest in PSLV and avoid SLV.

2. I will also play the market with funds like AGQ. They, at least, are honest about the fact that they trade in options contracts and not physical. Some investors may play the market by trading these funds and use their capital gains to buy physical.

I agree with you. My question was how Ray can essentially call them, to quote the mom on Water Boy, "the devil" and yet use them.

I use them and am fine with it as I think they are not the devil

I am in SLV and I hate it. But I can't let go because I continue to sell covered calls off it. The income is very addictive. As long as I can keep milking call premiums, I am gonna stick with it...even though I hate it. I don't like JP Morgan either.

Same thing with IAU. I own it but continue to milk solid call premiums off the covered call play (though the premiums in IAU are smaller than SLV).

Arrrghh! As long as I know I have physical stuff, I can take it a little longer.

My two (copper) cents worth.

silverflake wrote:I am in SLV and I hate it. But I can't let go because I continue to sell covered calls off it. The income is very addictive. As long as I can keep milking call premiums, I am gonna stick with it...even though I hate it. I don't like JP Morgan either.

Same thing with IAU. I own it but continue to milk solid call premiums off the covered call play (though the premiums in IAU are smaller than SLV).

Arrrghh! As long as I know I have physical stuff, I can take it a little longer.

My two (copper) cents worth.

I have been thinking of getting into SLV just because of the call premiums.

I have too, but I'm curious (if anybody wants to discuss strategy)...
Current month out of the money?
What's good out of the money and out of the month?

Personally, I'd rather have the physical metal in my possession. I don't know a great deal about ETF's, but it seems to better to have something in your hand, rather than on electronic "paper."