The recent bank bail in has Spanish investors spooked and the contagion is beginning to spread.
Gold & Silver Prices may get a boost as economic collapse 2017 gets worse and we watch this dire banking crisis come to a head…

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  1. I would like to think that silver will go up, but when you are already an old man, it gets harder to be patient.  At least it might help my daughters, but frankly these days I am spending money on fixing up the house and things that I need and use.  As far as I can see, the banksters and crooks running our country have absolutely no intention of giving up power, which is based on their ability to create unlimited amounts of fiat “legal tender” — and that requires them to suppress precious metal prices.

    I am sure that someday something will happen that brings down the whole house of cards, but it seems rather futile to keep predicting that on a regular basis, and then watching the predictions not come true.

    • I share your sentiments. I came to the realization about a year and a half ago that the silver and gold “markets” are 100% controlled by the Fed and their banking allies. They have proven that despite what happens in the financial markets or geopolitically that they are able to maintain that control. They must do this in order to maintain US dollar dominance around the world. Everything depends upon that so I do not see them giving up that power anytime soon. We may be waiting another decade or two for the system to “break.”

      I am no longer buying physical silver. I feel that I have a sufficient amount and there is no need to add more no matter how low the price may or may not be. I am now diversifying my assets across other sectors. I have even waded into the cryptocurrency space which has yielded amazing returns over just the past several weeks. It’s hard not to get excited about a sector that appears to trading on it’s on free merits and is not manipulated by the powers that be.

      Best of luck to everyone.

       

       

    • i stopped buying pms after i bought at the very bottom @ $14.50 .. i think i have enough.. i am holdoring them because i believe pms will be reset in the new crypto-currency that is rapidly coming. all my investment money goes to crypto, and has for last few years (except the @ $14.50 buy).

      hate to be bearer of bad news, but soon average joe will only be able to afford fractions of a bitcoin. if you are being stubborn about cryptos, then it is your loss. in history, anytime taxes were over 20%, a revolution happened.. the revolution is crypto-currencies.

    • “As far as I can see, the banksters and crooks running our country have absolutely no intention of giving up power…”

      Power is not given up.  It has to be ripped from their cold dead hands…

       

    • Typical internet nonsense. As the euro collapses this makes commodities including gold and silver more expensive in foreign markets with demand dropping and this is exactly what we have been seeing in markets. For over a year entities in the EU have been converting euros to dollars and parking in the Dow. Also capital has been moving from the south to the north which shows up in the Target 2 settlement mechanism. In Italy alone billions weekly have been flowing out of the country. Where is the capital ending up? Banks in the EU have opened branches in the US also converting euros to dollars and parking at the FED because the ECB charges banks to park capital. If that is not insane enough with the ECB wiping out shareholders and some bondholders in Banco Popular not only are depositors fleeing more rapidly but also bank share and bondholders across the EU are dumping too. This has created a domino effect with banks across Europe. The “smart”money does not buy metals as the physical markets are too small. They need markets where there are huge pools of liquidity and that has been the dollar and the Dow. This will continue thru 2020 when the euro and the EU will not survive in its present form. There is simply few places left on the planet where international capital flows can park capital. Silver will not rise significantly and there are various reasons for this. Silver has moved from a monetary based metal to an industrial based commodity where prices need to remain low. 70 to 89% of demand is industrial, manufacturing and retail jewelry. The monetary demand is too small to effect price and this demand can never offset the drop in industrial demand. In addition the amount of silver used in products has gone down every year because of new technology. Take solar panels. The amount used has gone down every year for 10 straight years. China has a multi decade plan to acquire as much gold as possible and they need a low silver price so their exports can be marketed and sold worldwide. They control the price thru Shanghai, Hong Kong and London. They created the SGE to funnel metals thru and then distribute them to their huge industrial ans manufacturing base and large wholesale jewelers. They do this by placing a 17% VAT in metal imports that do not flow thru the exchange and of course thru their own metals fix or auction. In addition the Chinese banks like Bank of China, China Commerce Bank, China Communications Bank, ICBC, HSBC, etc. are all participants in the London metals fix or auction on the LBMA, (largest physical market), and/or the LME, (futures market). Who owns the LME? Hong Kong Exchange and Clearing LTD. Who do you really think owns all that silver that JP Morgan has? Are we seeing a pattern here yet? All this is why silver will never rise significantly. It has become one of the largest scams on the net as everybody who bought over $21 are still either under water or sold for a loss. For over three years those that sale metals to consumers have predicted a dollar and Dow collapse, Comex default and bankruptcy, credit freezes, supply chain disruptions and of course metals going to the moon. Their incorrect forecast speak for themselves. These people simply do not understand what causes price movement in markets and how they really function! Even if these banks are fined the fines themselves pale compared to their multi trillion dollar economy.

    • @xstuntman check it.. new bill https://www.congress.gov/bill/115th-congress/senate-bill/1241/text
      if this passes, then u will have to fill out a form to transport $10,000+ in any monetary instrument. if you fail to abide by this law, ur stuff will be confiscated. the usa govy is desperate.. the “interest to infinity” debt slavery system is failing, abusive high taxes is failing. one senator thinks outright theft will work. sure it will.

    • I just wish that these so-called leaders / law makers would awaken to the thought that $10k ain’t what it used to be.  It’s not that much money at all… not in a world where an average car costs 3x that amount.  They need to add a zero to this to make it realistic and then index that to real inflation and not the 1/4 or so of that number that is shoveled out by the B(L)S and the Fed as “inflation”.

       

    • What puzzles me is that Bitcoin increases in value although it has no asset background similar to the fiat money we deal with every day.

    • Ah a limited edition Ferrari is worth more than a regular model so a limited supply no backing Bitcoin is worth more than no backing fiat.  Seems to make sense.  /sarc

    • @C6

       

      That’s because all of these crapto-currencies ARE fiat currencies.  They have zero intrinsic value, so only have whatever value people will bid for them.  This is why they are prone to sudden and wild price swings.

       

  2. I have also stopped purchasing PMs knowing that this market is so controlled by the banksters and crimax, don’t see it changing anytime soon.   It just doesn’t make sense after listening to all the advice on these boards where things are about to change…….to the moon in 6 months.   Will keep the metals I have but the day it takes a major jump I will be like 1,000s of stackers unloading and moving on.  Well, maybe I will keep a few of my favorite pieces.  Stack No!

  3. This is what I’ve been waiting for.   When comments on this site turn mostly negative and people start throwing in their hands.   Not long now before only the strong hands will be standing.

    I very rarely read the crap articles but follow the comments for this reason.

    • @GBS i do not believe there will be a pms bull market until after the reset to the rapidly approaching crypto-currency economy (if i am wrong, hey i am holdoring a bunch pms). i think if u are holdoring pms, u will be alright after the reset. i went into cryptos to cover my pm holdoring ass .

    • Agreed @GBS

      Your comments on this are spot on.  Good job with that.  🙂

      My line of thought on this is similar.  When everybody and their dog is jumping into something is exactly the right time to be a seller of that thing.  When everyone and their dog is bailing out, that usually signals a market bottom and time to jump in.

      Additionally, buying and holding PMs as a form of savings is a LONG TERM deal.  It is not for the fainthearted or those seeking to make a quick buck.  It is a way to protect one’s wealth from inflation and from government-orchestrated destroyers of wealth such as hyper-inflation and currency devaluation.

      One does not “spend” money on PMs.  One only converts soft fiat currency into hard metallic money.  That conversion can be reversed at any time.  In the meantime, the wealth that is in those PMs is protected from government financial shenanigans.  But it is also wise to maintain a good cash cushion so as to not be forced to sell when PM prices are low just because we need spending money.

      All that said, I still hold with the idea of a balanced approach to wealth management, which means owning other kinds of assets.  Given this approach, PMs become PART of one’s assets and each person who invests in PMs needs to decide just how much of their wealth should be in each asset class.  Currently, I am at about 16% in PMs.  This is a decent amount and should work well as intended.

       

  4. Chapter 25, A Pessimistic Scenario, of G. Edward Griffin’s The Creature from Jekyll Island is the most plausible description I’ve read of how the masters of the universe might crash the world’s economies in order to financially enslave us through the introduction of a cashless/virtual money system which they control. You can read or download the book for free here: https://archive.org/stream/CreatureFromJekyllIslandByG.EdwardGriffin/Creature%20From%20Jekyll%20Island%20by%20G.%20Edward%20Griffin#page/n537/mode/2up/search/pessimistic

    It wouldn’t be attempted unless they were positive they could pull it off.

    • On the other hand, they already control the world financial structure through the use of printed-from-thin-air fiat currencies and the central banks to manage them.  Management of this kind is usually described as: 1) bribing the necessary politicians; 2) manipulating markets; 3) publishing their economic fantasies as if they were somewhere near reality; 4) castigating those of us who insist on owning REAL wealth instead of fiat crapola; and 5) skimming immense wealth from the system that they control.  All this plus stronger measures if it appears that their control is weakening.

       

       

    • Productive land and cattle are both tremendous assets that should do well regardless of what the economies of the world and nation do.  People still have to eat and beef IS a high energy food in a hungry world.  Congrats on that.

       

    • It might be “such a deal” or it might be a financial screwing writ large when the new “owner” has to absorb ALL of the liabilities of the defunct bank for which they paid that 1 euro.  Instantly, they could be billions of euros in debt.

  5. How can you possibly say gold is manipulated below some higher price? Look at wheat to gold. Surely gold should be low relative to wheat if its manipulated? Stop making excuses for the charlatan gold promoters that post their rubbish on this site. They are con artists.

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