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$317 BILLION in the LBMA

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$317 BILLION in the LBMA

Postby highroller4321 » Mon Jul 31, 2017 4:30 pm

http://www.kitco.com/news/2017-07-31/Ho ... -Data.html

“As at 31 March, 2017 there were 7,449 tonnes of gold, valued at $298 billion and 32,078 tonnes of silver valued at $19 billion. This equates to approximately 596,000 gold bars and 1,069,255 silver bars,” noted the LBMA in a press release Monday"
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Re: $317 BILLION in the LBMA

Postby Changechecker » Mon Jul 31, 2017 5:40 pm

Is this a wake up call????
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Re: $317 BILLION in the LBMA

Postby Robarons » Mon Jul 31, 2017 6:06 pm

Interesting read. Next step is to compare those numbers to ounces held in Gold and Silver ETF's
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Re: $317 BILLION in the LBMA

Postby johnbrickner » Mon Jul 31, 2017 8:02 pm

interesting indeed. Makes me wish I had $19 billion . . . I'd leave the 69+K and just buy 1,000,000 bars. How cool would that be?
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Re: $317 BILLION in the LBMA

Postby Recyclersteve » Mon Jul 31, 2017 9:11 pm

johnbrickner wrote:interesting indeed. Makes me wish I had $19 billion . . . I'd leave the 69+K and just buy 1,000,000 bars. How cool would that be?


Hopefully you'd have reinforced concrete to support the weight. But with that kind of money you could easily afford it. Can you imagine someone on RC offering free 1,000 oz. silver bars to the first 100 people who respond? Now that would be some serious wealth! For anyone contemplating such a gesture, it would cost roughly $1.7 million.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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