How to Buy Physical Gold and Silver on the COMEX

How to Buy Physical Gold and Silver on the COMEX

www.bearmarketinvestments.com

If the COMEX is determined to under price its physical metal, then they ought not to mind seeing it leave their warehouse for the popular physical market.

It is perhaps the ultimate irony in this great crash market of 2008. Exactly when precious metals ought to be soaring on safe haven demand; when they should be stronger than a acre of garlic as a place for people to store wealth away from the hurricane of uncertainty that has become of the forex market (and the bizarre fluctuations of its now hugely inflated fiat currencies); the two most popular precious metals are instead being sold off on the futures markets just like all the other overly-leveraged commodities.

(visit the link for the full news article)


Related News Links:
www.bearmarketinvestments.com
www.bearmarketinvestments.com
www.bearmarketinvestments.com
www.bearmarketinvestments.com

There's a lot of talk that institutions and individual investors are going to demand delivery of physical gold and silver from the COMEX. No one trust or believes the fraudulent paper futures prices of the precious metals contracts.

The COMEX will be forced to admit they cannot deliver on the December futures contacts, which will lead to a major default at COMEX and a repricing of gold and silver.

www.bearmarketinvestments.com
(visit the link for the full news article)

[edit on 27-10-2008 by poppabear]

reply to post by poppabear


imo - besides being a panic-mode safe-heaven,
gold is a pretty useless commodity.
its industrial use declines and the only appeal it has,
which is well marketed ourdays, is (hyper-)inflation hedge.
if you compare ownership of gold via GLD, IAU or whatever,
even physical, to ownership of corporation, your gold
capital is stagnant, it doesn't contibute to any progress,
doesn't yield, and basically is useless...

love of gold could be the biggest fraud of all...

imho.

A "Fraud" that has lasted for all of man's history, I guess.

The real answer is gold is not a commodity, it is a currency and a store of value and has been for 5000 years. The dollar on the other hand has lost something like 96% of its value since its conception less than 100 years ago. In the very near future, it will lose ALL of its value.

Com'on gearheads.

Just go to any Bank of Nova Scotia branch in Canada and pick it up.

Um... you can buy gold at Scotiabank?

This is certainly news to me.

I'm not saying you're wrong, I've just never heard of it.

Now is the absolute worst time to buy gold. The whole commodities sector is about to crash, starting with gold. Look for $400-450 gold by this time next year, mark my words....

In 1929, the dollar was protected by the gold standard. In contrast, today the dollar is not backed by physical gold but is instead controlled by the federal reserve. The current head of the fed, Ben Bernanke, believes that the great depression only ended when the US weakened the gold content of the dollar, devaluing the currency. Let me repeat that , the current head of fed, Bernenke, believes the solution to deflation is to devalue the dollar in order to keep prices from falling.

When physical demand overwhelms the COMEX gold market and gold prices explode, it will blow a hole in the whole deflation argument. Investors will ask, "If the purchasing power of the dollar is supposed to increase, why is gold skyrocketing?" They will look back to what happened in1929 and discover that the dollar's purchasing power only increased back then because it was limited by the gold supply. In horror, they will realize that the true safe asset today, as it was back in 1929, is gold. It is this realization that will trigger the collapse of the dollar.

www.marketoracle.co.uk...

I think this sums up the situation quite well. In order for Deflation to have its proper effect, the paper money must be tied to and measured against something Real. That has not been the case for a long time. They will print, print, print...... It's all been done before. Every Fiat currency in History has suffered the same fate!

Originally posted by Yarcofin
Now is the absolute worst time to buy gold. The whole commodities sector is about to crash, starting with gold. Look for $400-450 gold by this time next year, mark my words....

Two silver linings to a economy in freefall:
1) cheaper commodities from lowered demand
2) slower rise of carbon emissions and pollution from slowing industrial production

to do:

1)Buy gold at it's lows before the next upswing
2) Introduce green technologies to the market to further reduce pollution while at the same time increasing efficiency and thus profit.

reply to post by poppabear


Here is a short article on how to buy gold on the comex AND take delivery. Considering that the comex gold price is a joke and the real gold is selling for 30-50 more this could be a worth while exercise.

goldprice.org...

Mike

If you're planning for the end-of-the-world.... buy coins.

If the economy goes into the toilet and the dollar is worthless.... when you have to buy a loaf of bread, do you think the guy is going to be able to make change for 1 oz gold bullion?

www.apmex.com...

Good BBB rating. I buy silver euro's from them about once a month. A 1oz silver coin is worth about $13.00. Back in 2000 it was worth about $4.00. They are small, light, easy to carry and conceal and most importantly... easy to spend.

reply to post by poppabear


Value with regards to anything is a place amount. Things have value because we say they do. People think there is safety in gold but if everything collapses, what is gold or silver going to do for you? The things that will have value will be usable items. Food, Clean water, tools, clothing, tobacco, alcohol, weapons, ammo, etc. These are the things that will have value. The dollar has value because of confidence that the US govt will back the value up(with what I'm not sure), not gold.

Gold and money only came into existence to normalize trading. Value is assigned to certain things to create a standard value. You cannot trade me 10 chickens for 1/2 of a goat.
Gold only had value originally because it was rare and used to make jewlery, it being rare and shiney is what people want to make jewlery out of it. There is a reason that sand doesnt hold the same value. Gold serves very little purpose as a functional item. There is very little you can do with it from a primitive standpoint and it was the rulers that gave it value.

If you want to protect yourself for the future, invest in knowledge to survive in unconventional situations, shelf stable food, water purification, tobacco, alcohol and alcohol producing items, tools, and other items that have functional purposes, for yourself as well as having trade value in a world with a devalued currency.

Has anyone heard anything recently about the well advertised potential Comex Gold default for Dec futures delivery? A non-sequitor?

First buy physical dont buy on the comex.

Second...

1808 1oz of gold could buy a nice gentleman's suit.
1908 1oz of gold could buy a nice gentleman's suit.
2008 1oz of gold could buy a nice gentleman's suit.

Gold is the only way to protect wealth.