Loading ...Columbian National Bank to be taken over by Monday opening. $60M loss to FDIC. In addition 8 branches elseware. My local coin dealer has “some” 08 Silver Eagles for $19 per with maximum of 2 rolls to a customer. He says he may not get any more, thus the high price. Might seem cheap soon.
You’ve got mail. I think this stock market concerning PMs esp. is more exhausting, like having two jobs. Now I will tear myself away from this screen before someone has me commited. I feel I will miss something if I don’t check this site, but I guess I will have to set limits on myself.
Molly, I didn’t know you could do that kind of charting by hand? Thats really good, I want to learn to do that someday myself when I can, that is if I don’t get totally fed up with the things that go on in the market buy then.
Thanks for the response,
Sad is the state of affairs when the some do not ” get ” the capability of one who is of Great Talent .. and dis that talent because of their own lack of understanding …….. sad indeed
2_point
You said:
“Personally, I am interested in truth. Facts of truth tend to be one sided, sided to the truth. There is no other way.”
I like the way you think.
A couple of years back one of the local dealers I deal with would pay spot for eagles and sell for $1.50 over. Then he went to paying $1 over and selling for $2 over. Next stop was paying $1 over and selling for $3 over. I haven’t checked with him for a while, need to do that and see where he is at today. I don’t mind the rise in the sell price over spot as long as the buy price rises with it. Of course, the real question is, does he have anything to sell. You can quote anything you want if you don’t have it to sell. Seems to me that if a dealer has buyers lined up to buy at $4 over spot they would be willing to pay $2 over.
Best
Dusty
out a lot of wisdom. Hope all are paying attention. email: robwilson@mac.com
Yeah the spread has gone up a bit. You know I did ask him that but I have totally spaced it since traversing all the other shopping stops, but recall it was over spot. Usually for silver, in the past, for bars and rounds, his spread was 50 cents over/under for buy/sell. The spread on silver eagles has increased slowly since I started watching them. They were awesome for 6 bucks, when spot was between 4 and 5. But today, none could be had, even with the $4 premium.
I’ve found slightly better pricing in the past online, but of anyone local in this area he’s the best and a good guy too. I’ll check next time I’m over there.
Bernanke, speaking at a symposium in Jackson Hole, Wyoming, dampened hopes of further cuts in interest rates in the United States but dropped no hints that the Fed was about to increase the cost of borrowing in response to rising inflation.
“The Fed looks firmly on hold for many months, caught between ongoing inflation concerns, existing ‘relatively low’ rates and the financial storm he talks about,” said Alan Ruskin, chief international strategist at RBS Greenwich Capital in Greenwich, Connecticut.
Bernanke called the combination of a financial storm and rising inflation “one of the most challenging economic and policy environments in memory”, and said that despite substantial cuts in the official cost of borrowing the financial storm of the past year had not abated. The effects of the credit crunch, he added, were now causing slower growth and rising unemployment.
The Fed chairman said he expected weak growth, lower commodity prices and a stronger dollar to help limit the increase in the cost of living in the world’s biggest economy.
“Nevertheless, the inflation outlook remains highly uncertain, not least because of the difficulty of predicting the future course of commodity prices, and we will continue to monitor inflation and inflation expectations closely. The Fed is committed to achieving medium-term price stability and will act as necessary to attain that objective.”
Naked truth
His remarks came as Buffett, the billionaire investor, said there was little prospect of a pick-up in the US economy before next year and every chance that the shareholders in the troubled mortgage giants, Fannie Mae and Freddie Mac, would be wiped out.
Speaking on CNBC television, Buffett said some businesses in his Berkshire Hathaway insurance and investment conglomerate were struggling as the economy suffered from the credit binge earlier in the decade.
“You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach,” he said.
Referring to the credit crunch, Buffett said: “Right now the situation is still getting worse, and I would say that I don’t see any early end to that.”
He also said Bernanke “does not have any magic wand” to bolster an economy facing weak growth and mounting inflation. “In my judgment it won’t be any better five months from now,” he said.
Fannie and Freddie shares have plummeted as speculation grows about a government bailout of the companies, which own or guarantee almost one-half of US mortgages. Shares of both have fallen more than 90% in the last year. The credit ratings agency, Moody, tonight downgraded stock in Freddie and Fannie to its lowest investment grade amid reports that the US Treasury was about to provide “direct support” to the mortgage giants. The effective nationalisation of the two government-backed institutions would make shares virtually worthless, Buffett said.
“They’re too big to fail,” Buffett said. “That doesn’t mean that the equity can’t get wiped out, and it almost has. In a practical sense, as institutions, they don’t have any net worth.”
Buffett forecast that “you’ll see some action fairly soon” to support the companies, but that he has not been approached to assist in any bailout. He said “nothing is going to happen” to investors in the companies’ insured mortgages or debt, but “the equity and preferred stock is another question.
Molly was invited to visit the Tent and declined.
While I don’t wish to put words in her mouth, my perception, is that she grew tired of being challenged, questioned, attacked and harassed by the permabulls at other sites anytime her P&F charts called for a correction or a pullback. Therefore, she elected to continue her talent on her own and without being a poster on any site. JMO
Spot pluss $4 for silver eagles……pretty stiff, did you happen to ask him what he was willing to pay?
PS Don’t bet little Tims eagle only condition lol
NUTHIN FOR SALE! Ok, there were a couple of coins and rounds, and of course the numis stuff. Silver eagles $4 over spot, but none available.
In the past my guy has always been able to order anything, in any quantity. Today he showed me the printouts showing where everything was listed unavailable. Says lots of buyers, few sellers. No ordering rolls of silver eagles. He was all up on the shortages. Seems pretty real. fwiw…
Babys are so precious. Quite a handsome young man, looks well taken cared for. But either I didn’t get it or don’t know how to send the eagle. I won’t even make a bet on that assumtion about the metals right now, too many forces trying to keep it down while the physical is being slowly depleted. I have a feeling more and more people are beginning to feel the same way about the physicals. I read that Buffet doesn’t feel that inflation will get any better in the time frame Bernake was mentioning. He said he doesn’t have anything to base that on. I think I read it on the naked truth, don’t remember. If I find it again I will post it, but have to go out again to the DMV with my smog check before I forgeaboutit again.Many are looking at this time for this a buying opt.for the futre inflation. Don’t think your a sluth?? I just don’t like paperwork lol, just know it has to be done. As I get older I will probably opt for it as this buisness can take a toll on you and leave you with nothing if you let it. less you trust SSI and the stockmarket.
Define - meandering. If you want to make that friendly little wager - we need more concrete points of discussion. IF, you want to bet that silver will not be higher than $13.33 (today’s close) by the end of the year - you have a bet.
I swear… every darn thing I put in my cart was 20 cents more than the last trip. Organic ground beef now $6.25 a pound. Ugh…
Yes… I can feel the deflation. It is occurring in pockets, purses and wallets everywhere.