ONTARIO(Commodity Online): Canadian billionaire Eric Sprott has filed for the purchase of $1.5billion in Silver bullion for covering an expected demand in his Sprott Asset Management's silver ETF- PSLV. A $1.5 billion in purchase will require about 45 million oz of silver.
Such a large purchase has normally Lead to higher prices. Sprott's $580 million silver purchase in 2010 was accompanied by an almost 175% gain in COMEX Silver when prices surged from $18 to $49! The current purchase of $1.5 billion is almost 3 times the 2010 purchase and as such prices could easily double or even triple.
Barclay's iShares Silver Trust issue also witnessed rapid price acceleration. COMEX silver had doubled from $7.50 to $15 within 6 months till the launch of the ETF.
Source: http://www.commodityonline.com/news/As- ... 2-3-1.html
Eric Sprott filed for the purchase of $1.5billion in Silver
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Eric Sprott filed for the purchase of $1.5billion in Silver
by Copper Catcher » Wed Nov 23, 2011 5:54 pm
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Copper Catcher - Too Busy Posting to Hoard Anything Else
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by 68Camaro » Wed Nov 23, 2011 7:31 pm
Ray posted this yesterday...
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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68Camaro - Too Busy Posting to Hoard Anything Else
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by Copper Catcher » Wed Nov 23, 2011 7:58 pm
I guess I missed it...
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Copper Catcher - Too Busy Posting to Hoard Anything Else
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by 68Camaro » Wed Nov 23, 2011 8:05 pm
Well, it bears repeating... 
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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68Camaro - Too Busy Posting to Hoard Anything Else
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by reddirtcoins » Wed Nov 23, 2011 9:37 pm
I agree
"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold."- Leo Tolstoy
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reddirtcoins - 1000+ Penny Miser Member
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by Mossy » Fri Nov 25, 2011 12:26 pm
Well, it if does not cost much to file the papers, it would be a cheap way to boost the price of silver instead of letting it fall.
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by beauanderos » Fri Nov 25, 2011 3:02 pm
Royal Canadian Mint also just filed to purchase $500,000,000. 
Maybe the cause for all the desperate measures the bullion banking sons without fathers are making. 
Maybe the cause for all the desperate measures the bullion banking sons without fathers are making. The Hand of God moves Worlds
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by Lemon Thrower » Fri Nov 25, 2011 3:12 pm
i wouldn't read that much into this except that the premium on PSLV is going to drop. its modestly bullish yes but i wouldn't put much stock in this press release moving the market (no pun intended).
Lets Go Brandon!
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Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by 68Camaro » Fri Nov 25, 2011 5:19 pm
Lemon Thrower wrote:i wouldn't read that much into this except that the premium on PSLV is going to drop. its modestly bullish yes but i wouldn't put much stock in this press release moving the market (no pun intended).
a) Premium already dropped from average of 16-18%-ish down to 8%.
b) Last time Sprott pulled 40-50 million oz of silver off the market the price (of silver) went to 50 within 6 months.
I'm VERY bullish on a strong positive effect.
We'll see.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
-
68Camaro - Too Busy Posting to Hoard Anything Else
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- Joined: Thu Dec 30, 2010 6:12 am
- Location: Disney World
Re: Eric Sprott filed for the purchase of $1.5billion in Sil
by Mossy » Fri Nov 25, 2011 7:57 pm
If he/they make an actual buy.
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