Has Silver Bottomed? The Doc, BrotherJohnF, & Greg Mannarino

The Doc, BrotherJohnF, and Greg Mannarino join Elijah Johnson of Finance and Liberty to discuss the price action and continuing physical shortage in the gold and silver markets.
While a re-test of $22 is possible in the paper futures markets, the price of PHYSICAL METAL has bottomed.

Full interview is below:


 

Phil banner

Comments

  1. I THINK EVERYONE NEEDS TO TAKE A MORE BALANCED AND OBJECTIVE VIEW HERE. WE ALL WOULD LIKE TO BELIEVE THAT THERE IS A METAL SHORTAGE AND THAT THE COMEX IS GOING TO COLLAPSE ANT DAY NOW, THE TRUTH IS THAT KNOW ONE KNOWS FOR SURE OR CAN PROVE THAT THERE IS A SHORTAGE, ITS ALL GUESS WORK AND SPECULATION. PEOPLE NEED TO GET USED TO THE METALS BEING RANGE BOUND ALL YEAR!! 

    • Hear hear, but get used to the paper price DECLINING! – It’s paper PM – of course it is worthless. The separation won’t come till after it has dropped precipitously… and shaken out most of you. Trouble is Silverites will be the first to run. Gold lies still… until it is revalued…Gold. Get you some.

  2. There’s a member of our community that needs a bit of help to get his project completed and I am trying to help him get to the finish line. I think you all know Bill Still from The Money Masters and The secret of Oz. His latest project ‘Jekyll Island – the documentary’ is nearly finished and he needs only 5k to wrap it up. I would ask that anyone that wants to see this work completed and spread to the largest possible audience to make a small contribution to the kickstarter campaign that he has posted. His deadline is this Sunday night and it would be great to have some contributions flow in from Silverdoctors, even greater if we could help him achieve his goal.

    http://www.kickstarter.com/projects/191063619/jekyll-island-the-documentary

    Even if you can spare $5 – $20 that is a huge donation and would help Mr. Still get to complete his masterpiece. If you can spare more then $24 FANTASTIC he will give you some decent swag for your contribution. T-shirts, signed DVDs, posters etc.. I am going to post this a few more times in the coming days so please don’t consider it spam or solicitation it is for a fantastic cause and this documentary is going to be absolutely stellar!

    • As for the silver bottom it is absolutely in.
      ASE and Silver Maples are going for $32 – $33 dollars an ounce on ebay and my LCS is giving me 2-4 weeks for delivery at $27. Gold ounce bars are going for $1600+ on ebay and $1550 at my LCS with very few in stock.

    • @Thunder Child
      That has NOTHING to do with the paper price.

    • Paper price is make believe…I prefer reality.

    • @Thunder Child
      Paper price is not make believe.  You can turn your paper into physical silver or gold, from an individual to a big big bank.  This is happening almost every day in gold.  It is not happening in silver.  You can watch this for yourself if you would like.  Check Ed Steers daily notes and he highlights them, or you can watch the comex reports yourself.

    • Mikey tel that to ABN depositors who got told they are settling for paper instead of metal.

    • Mary, that was a different type of paper, not COMEX.  ABN did not defaults, they sold of a private banking arm, duets he Nanking is now offering the service to those ABN clients.

    • stupidFew stupid auto correct… Father rest of the ABN story
      “Until 2009 ABN AMRO had a small bank that traded in physical gold called Hollandse Bank Unie (HBU) located in Rotterdam. Following our integration with Fortis Bank Netherlands, ABN AMRO was required by the European Commission to sell a part of its commercial banking portfolio in the Netherlands to Deutsche Bank. This was publicly announced at the time and included the sale of HBU, along with the transfer of HBU clients to Deutsche Bank. These HBU clients were able to use ABN AMRO facilities during the transition phase, and Deutsche Bank also offered its HBU services to ABN AMRO. Deutsche Bank subsequently announced last year that they would cease HBU activities in the Netherlands from 1 April 2013 – including this facility for ABN AMRO. We recently sent a letter to small number of affected clients, advising them that we can no longer make use of the HBU facilities provided by Deutsche Bank from this date. ABN AMRO has not provided these services directly since the sale of HBU, so there is no change to our offering – only to the facilities provided by Deutsche Bank. We have also found a new provider for these services, that is UBS.”

  3. Greg Mannarino is a nobody. He just repeats such simpleton statements and reveals nothing new or interesting. Why is he on this site???

    • And why are YOU on this site? What do YOU have to offer?

    • Snakebite- Cool name, I like that handle.  Just do a little research about Mannarino.  He is a total fraud and hypocrite.  Follow some of his predictions and trades.   He works at a medical clinic in Vegas and is not even in the industry of finance.  He has zero credentials to give out financial advice.  People are finally waking up to this idiot by researching his background and trades. Why he is linked or followed by the metal community is beyond me.  People can watch who and what they want.  I would never get into the way of that but your reputation is on the line if you link yourself to these kinds of people.  I would challenge anyone to show me proof that Greg worked for Bear Stearns.  I would like to have proof that he is a trader and has money in the game.  I have asked this question to Greg Hunter.  Hunter decided to block me for asking this simple request because it challenged his journalist skills.    Mannarino is the poster child of what is wrong with the alternative media.  Anyone can have a youtube channel and make daily videos telling people what to do with their money.  Anyone can plagiarize others hard work and relabel it as theirs.  Without a reference check of someone past resume and skills that would simply provide evidence that the information has merit isn’t much to ask for.  Apparently it is for Hunter.  Why are we lowing our standards of information and making these types a spokesman for this community?  Don’t we deserve a little bit better?  We already have this with CNN, CNBC, FOX and the other MSM outlets.  Can’t we provided, request  and demand some journalistic integrity?  Why can you see the propaganda with CNBC  and not in the alternative media?  Mannarino told Karl from the Bull Bear Report that he doesn’t trade any of his picks.  He puts no money behind his big mouth.  This was after Mannarino made daily videos about shorting this market.  After about 3000 dow points to the upside, Mannarino finally made some long calls.  He had so much egg on his face that his subs were waking up to his BS because they lost their asses with his trades.  He has the nerve to tell his audience that 70% of his calls are right and he made people millions with his picks.  It’s a total, outright lie. 

    • @ duckvision: What I really would like to say in response to your remarks would likely come off as “celebrity” worship, and if there’s one thing I cannot stand, it’s THAT. As such, I will keep it brief and to the point.
      1) The fact that Greg has a day job outside of the field of finance ought to have no bearing on his knowledge, experience or credentials when it comes to giving out financial advise. Beside that, the information that Greg relays goes beyond mere financial advise, but apparently that is the only part of his message you are interested in.
      2) I don’t believe he is obligated to prove anything to anyone in so far as having worked for Bear Stearns or any entity, for that matter.
      3) Nor should he be obligated to prove that “he is a trader and has money in the game,” anymore than you, me or anyone else who SHARES information of this nature on the internet.
      4) You’re correct, anyone CAN have a YouTube channel and make daily videos telling people what to do with their money. In Greg’s case,  I don’t believe he’s TELLING people what to do with their money, I believe he’s providing a form of guidance. Ultimately, WE are responsible for what we do with our money based upon our own knowledge, experience and skill level, in addition to what we gain from the input of others, whether it be he or anyone else. How we chose to proceed is ALWAYS risky and ALWAYS tricky.
      5) Please provide proof of Greg’s instance(s) of plagiarism. That is a strong accusation.
      To sum up my longer than expected response, I cannot help but to think that a small but vocal minority are crying sour grapes because of some incorrect moves they made in the market. Again, what we do is ultimately OUR responsibility, but I suppose it’s easier for some to shirk their responsibility and put the blame on the shoulders of others.
      And therein lies the problem.

  4. No…the bottoms are not in. 

  5. I think we will touch $17.5

  6. Mint is never going to get close to selling 60 million ounces of silver in 2013; It WILL soon  be Jack Lew’s discretionary decision to halt ASE sales. 
    Lew will site the Kennecott cave in as the main reason for supply disruption and while saying it’ll be temporary….it will quickly move to a tfn place—- a la the CFTC Silver investigation………..and years from now it’ll still be tfn.

  7. I really wish we could get a text summary of these long videos, some of us out in the sticks have bandwidth limits.
     
    The cartel still has some life yet, until we see a trigger event in the financial system they will keep on pumping Fed backed paper

  8. I did not have time to listen to the video so thank those who did for their synopsis. I think I know pretty much where Doc and Bro Jo come down on this silver shortage story.  
    Thunder Child  
    thanks for the heads up on the film production. I tossed a couple of ounces  in the tip jar.  A story about Jekyll Island would be an eye opener. 
    Silver bottom?  Who knows.  The fact that the price has been in deep retrograde for 3 weeks now doesn’t mean it will break to the downside.  But if it continues to trade in this range of $23-25 without a compelling story to see prices increase, the paper trading ghouls will probably push it down again,  maybe to $20 or even to the ILUVPMS target of $18.  I dont want to bet against someone who buys printing ink by the barrel or paper shorts by the 100 MOZ.  they are capable of anything in this present era

  9. Greg Mannarino is a fantasist. Just look into his background. It totally puzzles me why anyone with credibility associates themselves with him and has him on their site.

  10. is silver or gold going to be the  better choice…i know silver will probably gain more making silver the better bet but if only  gold is going to be revalued and not silver than gold would be the way to go esp to avoid the capital gains tax…so im still stummped on which way u should lean mire towards…any thoughts would be appreciated

  11. Snakeface, you expressed your love of the man previously, maybe send him some chocolates? 

  12. KJ 87  To answer your question, there are some hypothetical and some hard answers.  As for the chance that gold will be revalued or placed in play somehow backing the currency is not something I speculate of plan for since it can’t be factored into my scheme of investing It is too speculative.  If silvergoes up in price faster than gold then that will benefit us but is also a ‘best guess’ situation given the present activities of manipulation and shortages, real or perceived.  Taxes are matters that have not changed much for many years but we could see some changes if gold and silver go up in value substantially, attracting the attention of a revenue-hungry government.  Just as Bitcoin is now received great atttention from TPTB including the CFTC, Lord help us there,  if precous metals ramp in value you can be assured that PMs will get the eye of a government that wants to control alternate currencies.
    I’ll give you the snap shot of tax rules regarding gold and silver.  American gold eagles can be sold in unlimited numbers as they are not a reportable sale by coins dealers but they bear a 28% capital gains tax. If you sell   Gold coins from other countries the reporting threshold starts at 20 coins.   Bear that in mind when you buy or sell since AGEs have a preferred reporting structure and are slightly more expensive that foreign coins.  Generic gold coins are a gray area in reporting from an LCS on a 1099 so preceed with full knowledge and call your accountant.
    Silver can be sold easily and in smaller dollar amounts. I understand that if you sell 1,000 ounces or more of silver you will generate a tax reporting 1099.  That litmus test should be your measure of how much to sell or to whom you sell. I prefer private sales but did sell some gold to an LCS at spot $1,580 to buy silver from SDB and a sizable purchase of ammo.  Recently I did a trade with Doc using gold as the buying end of the transaction and picked up about 1,150 silver buffaloes to add to my sellable inventory. Both gold sales were a slight loss since I use LIFO acccounting to determine my  capital loss on gold   My average gold buy price is about $1,610   One gold exchange was a trade, one was an outright sale and there are paper trails on both and I do this for capital loss purposes since selling or trading gold was doen to acquire silver for the most part.
    If the world goes to some sort of barter system due to causes we have discussed aat length here on SD, then trading silver or gold for commodities may be a good resort.  By then these trades will probably be well below the radar and completely in the private sale category.  Ihave plans for that with junk bullion and silver coins. 
    My last comment regards how much of each to own. Over the last 3 years I’ve consistently bought equal dollar for dollar purchases of gold and silver.   The total ounces are very different but the values are pretty much the same notwithstanding the great drop in price of silver over gold.  Silver is a better buy now since it’s relative value is lower for buying purposes.  I think that we may see slightly lower prices for silver in the near term but at $24 the price is very reasonsable and about $9 over my average buy price for silver

  13. Snakebite and Manarinno are one and the same. (p.s. it’s spelt ‘duh’)
     

Speak Your Mind