Lawsuit for manipulating silver

Here is the article:  http://panicof1907.com/anon/FINAL-Consolidated-Class-Action-Complaint.pdf

The bullion dealers are running out of coin silver, they are still selling it but it is on back order. The longer the metals prices are down the more severe the shortage will become. Almost all 90% silver is on back order (and some smaller .999 fine bars as well) at Goldmart.com. They have "delayed" item description. CNI is almost completely out of platinum and their palladium is low as well.  Currently platinum is lower than gold. Unless you want 1000 or 100 oz. bars or the large $22000 bags there will be a delay in shipments on a first come first serve basis.  I forsee the days of coin silver selling at spot to be over soon if it isn't already. 

VPLM problem

The VPLM website is closed; I sold my shares ar $.015 which is double what I paid. There is word on message board that something is wrong with the contract with Bleam. They may have it fixed by the end of the day but I cant chance it. It is not often you can double your money in a few weeks of time. I put the money into PSEC.VPLM is already down to $.0125.  I expect stocks and metals to recover now.

2011-9-29   12:52  I called Dennis Chang and left a message. He called back left message on my phone that the press release that will come out today will answer my question.

SLV buy embalance

There are not enough shares of SLV to fill the orders. SLV is at $31.86 at 10:02 am

Gold and silver coins minted by the US have been recognized as legal tender in Utah. Which state will be next?

$20 silver coming

This happened in 2004,2008 and now. The price seems to go to the previous high. I think silver could go down to $20 or the low 20s. If it gets that low physical availability will be harder to get, spreads are around $2 to $3 over spot just like back in 2008. Do not sell your physical silver, it will go back up, this is why I suggest silver and gold for more long term investments. Believe it or not this is a healthy correction; silver will in the long term go up for the next 40 years until we get out money system fixed.  The next high will be around $80+ and the next low could be around $49 in a few years unless we run out of physical silver. I do believe stocks will recover as well  but if a stock were to fall like this I would be worried. We could hit $25 today or tomorrow but I do not believe it will go below $20. You will never be able to buy physical silver for $20 again--spot may get there but they will raise the spreads on bars and coins so even if it went to $17 you would never get physical for less than $20. Remember there is less silver out there than gold and silver is consumed in small amounts that cannot be recovered. The reason why this is happening is because people are buying silver they never will see and they are buying silver they never could afford to hold long term because they are borrowing to buy it. They are day trading silver contracts which is a form of gambling.

1:22pm  Silver was down to $26.15 this morning and gold was down $100 to $1535 but they reversed the losses  and gold is now  or was recently $1607 and silver is $30.25 up $.20 on the day. The kitco charts have been hard to load lately.  Physical buying is very strong.
Margin requirements were raised 21% on friday.

Bullion shortages

I am seeing on message boards that some bullion dealers are closing down or running out of physical silver. Silver could go into the $20s but bullion may be hard to get.Some places are closing their websites because they do not want to sell below $30 an ounce. I think they simply do not want to take a loss on their silver inventory that they may have paid $40 per ounce for. This reminds me of 2008. 
   I checked some of the bullion dealer websites. Dimes are out at Apmex and they raised the spread on the other coins. The shortage isnt severe yet.  Silver is around $29 at 11:17pm sunday.  The problem about waiting for the price to go down is there may not be much to buy. This happened back in 2008. Silver dropped like this in 2004 after a run up, then 2008, and now it is happening. I think this is a trading pattern with silver but I am certain it will go back up again.  If this happened to one of my stocks I would sell it and not be happy at all. Companies can become penny stocks like Fannie Mai did and not ever go back over $1.00 again.  Silver will recover though just like it did the other times it fell in price; the budget shortfalls and faulty fiat money is still there and nothing has changed about silver itself.  They can't issue more shares of silver and gold like they do with stocks. We may have to wait a year or so to see $40 silver again though. If the economy picks up silver will be in demand for industry as well as investment. At 11:37pm sunday silver is $29.25 at Kitco.

Markets hemoraging silver and gold

Friday 6:53pm:

Gold opened the week at $1815; it is $1657 now.
Silver opened the week at $40.21 and it is $30.93 now.

I think most of the selling is in contracts and paper silver. Bullion dealers were very busy selling physical silver. Anyone who was leveraging silver got hit hard and likely got a margin call and had to sell to pay the call. Silver is down 24% on the week and most of it went in the last 2 days. Dont worry it will go back up, none of the debt problems or inflationary problems are fixed and people indeed are buying physical silver. Some places are runninng out of some varieties of coins or bullion but i didnt see any major shortages yet. keep in mind if you want physical to get it while it is available because there is indeed less silver out there to buy than gold and some need it to run their business. REITs went up today, some people may have sold metal ETFs to buy stocks.

Silver down 10%

Silver is down 10% but the public is buying physical bullion.  At one large bullion dealer, CNI in California, there was a line of people in the parking lot.
Gold closed at $1736.20 down $44.30
At 8:09 it is $1742.20

Silver closed at $35.84  down $3.70
At 8:09 it is  $36.29