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Eric Sprotts advice to miners...

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Canada
1525 Posts
 Posted 02/23/2012  4:20 pm Show Profile Bookmark this topic Add samsnate to your friends list Get a Link to this Message

What you all think will happen and do you agree?

http://www.resourceinvestor.com/201...price?ref=hp

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Canada
1525 Posts
 Posted 02/23/2012  10:38 pm  Show Profile Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
I think he's onto something. The mechanics make sense and would be nice if physical silver owners would be able to have the say rather than electronic silver holders.
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United States
4008 Posts
 Posted 02/24/2012  5:53 pm  Show Profile Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
If the paper silver market responds to supply and demand pressures, then holding some silver production off the market should such prices higher.

The paper silver market has some serious problems. It looks as if Sprott is trying to get the silver producers to be more active in the actual price discovery of silver, rather than just accepting whatever comes out of the paper silver market as the actual price.

We have all seen this kind of thing before but not on the scale that Sprott is attempting. One good example was that a couple of years ago the paper price of silver dropped from the high teens down to around $9 per ounce. Problem was, nobody would actually sell any at that price. Anyone who actually had physical silver was holding on to it and not selling at such a ridiculously low price. So, the price was low but it was also pretty much irrelevant.

Actually, I am surprised that we have not seen the rise of a physical gold and silver cartel that sets the prices for these metals in a way that is similar to OPEC and their oil pricing / production model. Could this be the very first step in that direction? Perhaps.
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United States
9104 Posts
 Posted 02/24/2012  6:39 pm  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
It's pretty obvious what can happen. When the Hunts insisted on physical silver once their paper investments matured, the price went steadily from $6 to $50 an ounce.
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Canada
1525 Posts
 Posted 02/24/2012  9:59 pm  Show Profile Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
I hope that this is the begining. It would be nice to see it in it's rightfull place beside gold rather than be a pawn of paper promices! I had the fact that the little guy has such a hard time making a profit off their 200oz when you have the paper silver selling millions at a time collecting after silver makes a $2 gain pushing prices back down messing with over us little guys that are fully legit. Angers me! Make money off what you actually own. Go SPROTT!
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United States
4008 Posts
 Posted 02/25/2012  7:24 pm  Show Profile Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Just remember that buying physical silver and buying paper silver is not a mutually exclusive deal. It IS possible for us to own some of each, which I do. I read the prospectus for the SLV ETF and found that it was not something in which I cared to invest. Instead, I put some money into the SIVR ETF. This is a much smaller ETF but it seems to be better run and is independently audited as to silver content. I got into it when silver was about $30/oz. so have made a few thousand on paper. I'm still holding it and will probably sell it if silver gets to $45/oz. or so. I would not at all be opposed to buying it back later at a lower price. Since this is in a Roth IRA, there are no tax implications to any buying, selling, or profiting I may do.
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