This Guy Plans 2 Kill “Paper” Silver
Bob Coleman, a physical gold and silver bullion fund manager in Idaho, says he’s ready to take on COMEX and break the back of “paper” silver. He has sent legal notice to the CME/COMEX and CFTC (the regulators overseeing COMEX trading) warning them of his intention to take physical delivery of between 1 million and 5 million ounces of silver per month.
His letter, in part. (Click it to read more.)
Bob talks about his intentions, “Our programs are determined to follow the rules of the exchange and take physical delivery of their inventory for as long as possible. The structure of our programs and vaulting facilities are very unique and have been designed to fully insure and segregate all physical precious metals. The storage is independent from the financial and bullion dealer system. We specialize in providing private storing, safeguarding, and viewing of your assets. We have made arrangements with armored transportation carriers to pick up, transport, and store the metal to many of our available vaults.”
If Bob follows through, and you and I should hope he does, his actions could finally break COMEX’s back and stop the illegal manipulation of the silver market. If industrial users of silver are unable to “get physical” expect the price to explode as they scramble to meet their needs.
My aside: It is no secret that the ”paper” price of silver and the “physical” price of silver no longer match up. COMEX has “paper” silver pegged at $9.36/oz as I write this, but it is impossible to purchase “physical” silver at this price. eBay has become a more accurate indicator of silver’s true price. (Click the image to get a list of the most recent sale prices of Englehard & Johnson Matthey 100 oz bars on eBay.) Current eBay pricing is running $13.01/oz to $14.92/oz.
Let Bob know you support his efforts! Contact him at 208-468-3600 or at profitsplus@cableone.net.
Go, Bob, go!
Let’s join Jim Sinclair and Bob Coleman and BUST COMEX gold and silver!
Sinclair Sez “Help Me Bust Comex”
Warning: COMEX May Default on December Gold
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