Trusting God's Life Boat
(Hop on Board!)
Silver Stock Report
by Jason Hommel, December 29th, 2008
I'm sure many of you have heard the joke-parable of a man on his rooftop during a flood. As the floodwaters were rising, first, a man in a dingy came by and said, "get in", and the man on the roof replied, "No Thanks, I'm praying and waiting on the Lord." Next, a lifeguard came by, and again, the man refused the help, saying he was waiting on the Lord. Finally, even a helicopter was refused with the same excuse, he was waiting on the Lord. After dying in the floodwaters, and getting to heaven, the man asks God, "Why didn't you save me?" God replies, "I sent you the dingy, the lifeguard and helicopter, what did you expect?"
Soon, many people are going to be asking God a similar question. "God, I trusted you to protect my finances by living a good life, I avoided alcohol, and other sins, I've gone to Church daily, and prayed daily, gave to charities, gave to many Pastors, and been an overall good Christian, so how could I have lost 90-100% of my savings which I pledged to support the growth of the Kingdom of God?"
And God will have to reply, "I gave you silver, gold, platinum and palladium. But you didn't want them. Instead, you bought paper promises from anonymous men in bankrupt institutions who have a stated goal to support the fraud of the paper dollar which is not even an unjust weight and measure but a failure to pay any measure at all, so what did you expect?"
Well, maybe God won't say all of that exactly, but I would think he would say something very similar, and as a student of the Bible, that's what I hear him saying to me. Whether you can hear a similar message or not, is, of course, highly debatable, which is why most people now are not listening to the instructions and provisions of God, which is my point.
My friends and readers, the 85,000 of you on this email list have about $8 billion in assets, combined. Well, maybe only $4 billion now, after the recent asset crash.
Over the next year, if we meet our sales expectations, and turn around times, in terms of ounces of silver, then, at $10/oz., we'll sell only $20 million of "asset protection" physical silver. That's $0.02 billion for the $4 billion needing protection. Sorry, but if silver is the lifeboat we are offering, then our boats are far more limited than the limited lifeboats available for the passengers on the Titanic.
Here are two articles I wish to share:
The Greatest Wealth Transfer in the
With the exception of the Panic Meter, all graphs in this article
are taken directly from the Federal Reserve's website. Personally, I'm
pretty sure that in a few years a chart of the price of gold will look
similar to these charts, and a chart of the U.S. dollar will look like one
of these charts flipped upside-down.
Step 2: Buy physical gold and silver and take possession of it (or have it stored at a third party depository).
Step 3: Avoid "Fools gold" such as:
* ETF's, pool accounts, futures contracts,
leveraged accounts etc. Many of these are just "paper contracts" with
little or no gold or silver behind them.
An Article For Your Favorite Mining CEO
Mining companies that supply silver to the COMEX need to find a way to turn their silver into small bars (1 oz to 100 oz), and 1 oz rounds and sell these to the public. Already some mines are doing this by selling from their website, and they are obtaining a hefty premium over the spot price. If your production is limited, join forces with a mine that is already merchandising silver products, or form a sales organization with other small mines. Hire some cracker-jack salespeople; there is a big market out there! Starve the COMEX if you want to see silver sell to realistic prices. Adjusted for inflation, the silver price of 48.00 that we saw in February of 1980, is trading at 4.00 today. (In 1980’s dollars, silver is now selling for 4.00 an ounce!)
Next, (and still communicating to mining CEO’s), instead of keeping money in the bank, or in various kinds of short-term notes, store up silver, and show us that you believe in the product you are producing. Instead of cash on hand, buy futures contracts, and keep rolling them over.
Coin dealers and wholesalers need to buy 5,000 oz bars from the COMEX, take delivery, and contact a refiner who will turn the silver into retail products. If your operation is not large enough for a 5,000 oz purchase then buy silver from people like Jason Hommel, who was smart enough to start doing this on a large scale.
I had to explain what a small scale I'm doing this on, in context with the size of my readership base, because of Peter's favorable mention of my auctions.
Peter Degraaf has also compiled a list of "Worthwhile Quotes" that
HOW THE AUCTIONS WORK AT SEEKBULLION.COM
1. Remember to refresh your browser during the auction to see the latest high bid.
2. At the most, I've seen 4 people place 11 bids in the last 60 seconds, with half of those being automatic proxy bids. At other times, a bid placed by a bullion dealer at his normal bid prices in the last hour will win nearly half the auctions running.
3. If you lose one auction, try the next ones. Remember to allocate your capital appropriately, and quickly check to see if you won one of the auctions or not.
4. Sometimes, one person wins all auctions. Sometimes, they are all won by different persons! Lately, the prices for the auctions are all getting very, very close, showing it is very, very fair.
5. Minimum bid increment is $5 over the last bid, which works out to 1 penny per oz.
The silver in tonight's auctions are one troy oz. .999 fine silver rounds, 500 per box, 20 each in plastic tubes, for a total of 4000 oz. in 8 auctions, one every 2 minutes, starting at 8pm, Pacific, or 11pm Eastern. Silver Auctions at: SEEKBULLION.COM
Unfortunately, this is my only, and last, auction this week, due to the New Year's Holiday.
Silver Rounds are widely recognized, traded and accepted by over 4000 coin dealers across the U.S. and are easy to detect and identify as silver. If it were easier to counterfeit silver coins, the U.S. government would have done a better job at making quarters and dimes look, feel, and sound like silver, but they clearly don't, as they have that visible copper slice in the middle.
To see a detailed picture of the coins, click here:
On the back of the coin, across the top, above the Buffalo, it says "ONE TROY OUNCE .999 FINE SILVER". On the front, it reads simply, "LIBERTY".
Your bid is a "maximum proxy bid": Here's how they work. You don't pay the max you bid, but maybe rarely, only in the event of two people bidding the same amount, then the first bidder of that price wins it! Normally, you pay the minimum bid increment, 1 penny/oz., over the second highest bid, and not your full "max" proxy bid.
To win, don't try to bid the minimum increment bid over the next bidder at the end, it can go too fast, with too many people trying that approach. Instead, bid as high as you are willing to pay, to try to place a reasonable bid near the price of the first or second auction; they will all go for nearly the same price.
Bidding is fast paced, but don't be discouraged. It might take practice a few times before you win. It's not too much of a danger to bid 1-2% over what you think it will take to win, because of the nature of proxy bidding. Try not to "low ball" the bids, but instead, place a realistic bid, perhaps somewhere around what you think it will take to win, and maybe a bit under the price of where you know you can get silver elsewhere.
With up to 4 people bidding in the last minute, the "floor" price is
fairly steady, because there is a depth of bids. You have to bid
higher to win, obviously.