gold-silver-market.blogspot.com for details Eric Sprott on The Financial Sense News Hour 12 Feb 2011
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Eric Sprott on The Financial Sense News Hour 12 Feb 201125 comments to Eric Sprott on The Financial Sense News Hour 12 Feb 2011Leave a Reply |
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Recently PSLV was trading at like a 20% premium to NAV. Then yesterday silver was up 1.7% while PSLV was down .5%.
Understand what your buying folks. I would hate to be an ignorant investor piling into this vehicle only to see it drop while silver is rising.
This will sort itself out once investors bid down this premium, but just be careful.
@SilverTraderFM The only problem is that I am retired, hence the question. So you would pay capital gain plus the 28% plus custodial fees? I thought there was no 28% for silver as there is for gold?
@nld1960 PSLV capital gains is taxable like any other ETF/stock, GLD for example is a gold trust and taxable. Damn feds will tax anything and everything with gains in your cash trading account. Of course, if your are trading in your IRA account you can trade all you want and only pay taxes upon withdrawal when you “retire”. I just sold off 20%+ SLW. I’m expecting a ~5-10% correction in the next month or so and going almost all in PSLV + physical silver 100oz bars in the next dip. -SilverTraderFM
I only have 700 ounces but I am gonna hold onto it and only let it go if I ABSOLUTELY have to. The good news is my wife is fixin to cash out her 401k and we are gonna put it all into silver. we will buy from jhmint.com
@SilverTraderFM I have the same as you have. I recently sold some of my silver to take some profits, I don’t pay taxes for silver profits. How about Sprott Physical shares. Is the profit of pslv taxed for profit just like any stock?
I’m buying and holding physical silver and going long with PSLV (Sprott Physical Silver)… I believe in even silver to gold 10:1 and beyond – SilverTraderFM
@wyoraider86 all ponzi schemes eventually fail. I know. but when is the dollar going to cease becoming a reserve currency? when are the europeans, latinos, chinese, japanese, americans etc. start using another currency & what will be the replacement? or will the dollar crash suddenly overnight wiping out trillions in wealth? will the central banks let that happen?
you still need to produce wealth to be a super power…you need money to maintain an empire…why would contries continue to loan us money if they know they will never get it back? who is stupid enough to buy a 30 year t-bond right now except a few contries who are in our pocket and the Fed? Printing money to buy T-bonds and other distressed bonds is a ponzi scheme….all ponzi schemes eventually fail…and thats not even mentioning social security and medicare..PRINT PRINT PRINT…GOOD LUCK!
@wyoraider86 when is the dollar going to crash, oil going to stop trading in dollars & switch to another currency? for that to happen USA will have to cease being a super power, leave the middle east & go home. a long shot if ever there was one. if you like you can bet on that. not me.
@nayanmalig good luck with your paper money slave…you are a slave if you work for something that others can print and give away to their constituants for free
@wyoraider86 of course. so when will the dollar crash?
@nayanmalig Lol your right…people have confidence in the dollar….social security is also solvent, our budget can be balanced, and Bernanke is gonna print us into prosperity
@mrcell61 they maybe not accumulating. but they are NOT getting rid of dollars & rushing to metals either. jim said so on a show very recently. i saw it. get my point? there seems to me no panic AT THE MOMENT. seems the dollar still has a long way to go before it crashes. if ever. things could all change suddenly though.
Buy silver miners and not SLV etc. The miners are where it is at.
Yeah, yeah, yeah. Every “so called expert says they have been buying silver since 2002. I have been buying since 1977! Get a clue wall street.
@nayanmalig
I listed to this again and I realize now that your comment stemmed from Eric saying James is selling silver online – perhaps you aren’t aware of GoldMoney which was founded by James.
Eric wasn’t stating James is selling HIS silver, but that his company has been selling a lot of silver to customers – in other words, business is booming.
I know of no investors of this caliber to be selling their silver.
nayanmaig are you high? James Turk is not accumulating US Dollars. You may want to send him an email and ask him. Jim Rogers is not accumulating US Dollars. Bob Chapman is not accumulating US Dollars. Eric King is not accumulating US Dollars. Eric Sprott is not accumulating US Dollars. Do you think in metals backwardation these guys are selling metal? LOL
Gold;Silver Ratio 45…I believe it will settle at 20:1 then it will go parabolic.
@nayanmalig I did not here james Turk is selling his holdings? Sounds phony especially since his friend hugo salinas has a bill in Mexico to monetize silver.
@nayanmalig got any proof of that claim please
why is james turk selling all his precious silver for US dollars? seems all silver proponents are big time sellers. they sell silver & collect dollars? very suspicious.
There are only 276 views! That shows that the sheeples still don’t get it! Buy buy buy silver and gold!
Awesome discussion. Thanks.
BUY PHYSICAL SILVER !
nice!!