Showing posts from May 10, 2015

Silver Update, Explaining Bit Gold

After writing my blog on whether or not JP Morgan was trying to corner the silver market, silver rose from 16.40 (May 8) to 17.51 during the week. For the first time in at least a year, silver was actually up yesterday. (Friday) I went ahead and bought some anyway. Buying silver here is a no brainer for me. Get zero interest on deposits or buy precious metals at rock bottom prices. Last year, I bought a new, larger safety deposit box. I hate keeping my pm's in a credit union. I don't trust any kind of bankers- period. But the thought of pushing a 700 lb safe into my house and bolting it to the floor has me less than excited. A few days ago, my uncle referred me to an article at 321 gold on "Bit gold." I read what I could about bit gold there and a few other places- and I love the idea. It is simply banking, with worldwide capabilities in any currency, using gold. I would have signed up for an account this week but alas, US government regulations prohibit it. Ima

Is Too Big To Fail Bank, JP Morgan, Trying to Corner the Silver Market?

For several months and probably years, I have been following the silver market. I buy silver, small quantities, on a fairly regular basis. I always buy on Fridays because the price is always under attack on Fridays. I wish I had a chart of the silver price limited just to Fridays- because that is when precious metals are consistently sold off. It's almost automatic. At any rate, several weeks ago, I caught an article about JP Morgan buying silver hand over fist. We're talking 9 million ounces in the space of two weeks. The silver market, in relative dollar terms, is very small. The Hunt brothers tried to corner it in the late 70's but failed- driving the price of silver to 50 bucks an oz in the process. Interestingly enough, the Hunt brothers telegraphed their intentions which allowed a lot of folks to hop onto the bandwagon and drive the price up in the process. I was one of them. The Hunts helped pay for my college and a car. So what about a giant TBTF banker- with