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-- Posted 23 December, 2008 | | Discuss This Article - Comments:
Source: SilverSeek.com
(Plus Zero interest, Hyperinflation protection, New Rounds)Silver Stock Reportby Jason Hommel, December 22, 2008
Seekbullion.com was profiled by David Morgan of silver-investor.com in a recent article:
http://www.silver-investor.com/davidmorgancommentary/articles/12-19-08_ibtimes41_Silver-WhereIsIt.html
Key Excerpt:
There is another Web site that has begun business recently that is known as seekbullion.com and has some of the expertise from goldseek.com and silverseek.com. The founder of goldseek.com came to one of my first appearances at the Wealth Protection Conference in Phoenix, Arizona, and we have been friends ever since. According to their Web site, “SeekBullion.com is an online precious metals/bullion auction Web site that deals with trusted pre-screened authorized dealers (sellers). SeekBullion.com is a division of GoldSeek.com and SilverSeek.com, Gold Seek LLC, founded in 1995. SeekBullion.com aims to create a new marketplace for bullion products at competitive rates, whereas other auction Web sites will charge several percent on auctioned products which increases the cost to both parties. SeekBullion.com aims to greatly reduce the cost of bullion auctions with the trust and integrity of Gold Seek LLC, the premier global leader in precious metals information and financial truth.”
Thank you David Morgan!
GATA notes:
Gold doesn't pay interest? Neither do money market funds
One of the last and most foolish arguments for not owning silver and gold is melting away.
I addressed that argument years ago in my article:
Refuting Myths about Gold Oct 28, 2002
Excerpt:
11. Gold does not pay an interest rate:
Wrong. From 1971 until 1980, gold increased from $35/oz. to $850/oz. That was an increase of about 24 times, 2400%, or an annual increase of 34%. Even a bond paying 34% would not be as good, because a bond paying that high of a rate would most likely default, and remember, gold can not default. The best investor in the world, Warren Buffet, has only been able to increase his portfolio at an annual increase of about 20% over the years. Gold, as an investment, for a certain time period, has vastly outperformed the best money managers in the world, and gold will do so again for everyone who owns it now.
These days, I'm shocked to see that the largest Ponzi Scheme in the world (besides the government run ones like paper money, social security, etc.) --the Bernie Madoff $50 billion fraud fund, only provided a steady 10.5% return to investors. Had he purchased gold in 2001, his Ponzi scheme might not have failed, and, in fact, his fund could have had returns far in excess to that which he promised his investors! Gold, at $255 in 2001, to $850 by 2008, after 7 years, is an annualized 18.77% return! Check my math: http://www.smartmoney.com/compoundcalc/
If Bernie just bought gold, he could have returned 10% to investors, and kept the rest, and there would have been more than enough to back up the fund.
Gold pays no interest? Hilarious! Gold pays the best dividend of all. It helps you sleep at night!
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A man has been emailing me for the past few weeks. At first, he was concerned about deflation. After many emails, especially where I encouraged him to think about it all more, he replied with his final reasoning:
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Wow. I have my answer. This is so clear to me now. Before I believed that there would come a point where the banks have so much reserves that even if the Fed stop giving them Fed Notes and allow them to fail, with the enormous reserves they hold, bank runs ALONE would cause hyperinflation. I believe now that we have reached that point. We have reached that point of no return from hyperinflation.
The Fed and govt. is not stupid enough to believe that lending with all this deleveraging will stop the deleveraging. What the Fed is doing is supplying the banks with the money they need to stay afloat because they know that if the banks fail with the enormous reserves they have, hyperinflation will be exposed through bank runs ALONE! This all makes sense now. It is not in the Fed or the banks or anyone's interest to have the banks resume lending because the banks need the money to keep the lights on. Lending money with all this deleveraging is a guaranteed loss and the Fed, the Banks and everyone with a brain knows this.
The Fed will tell you and play the role as if they want the banks to resume lending but what's really going on behind the scenes is that they DO NOT want the banks to lend because if the banks resume lending it will be harder for them to stay afloat because of the lost money from investing with all this deleveraging. And if the banks fail hyperinflation will be exposed through bank runs.
Through out history, The Fed and govt. have been doing everything they can to hide hyperinflation and that has not changed. Anyone with a brain knows that lending money with all this deleveraging going on is a guaranteed loss. I refuse to believe the Fed is that dumb to believe that they can stop this deleveraging with more debt. I believe that they know they can't. They know that if the banks lend the money, that money will be lost. They also know that the banks need the money to keep
the lights on. The reason they (the Fed) are saying they want to banks to lend is to push the false idea that deflation is the problem, that lending is the solution and that what they are doing is solving the problem. It's all about deflation.
They want the world to believe deflation is the problem we are facing when it is not. One thing we know about the govt. and the Fed is that they have a history of hiding hyperinflation. This time is no different. We have reached that point of no return and hyperinflation would occur if the banks failed right now. That is why the Fed is keeping the banks afloat. Hyperinflation is inevitable whether the banks are allowed to fail right now or through the continuation of these bailouts. And the longer the Fed keeps these zombie banks afloat the worse hyperinflation will be when it is finally exposed and it will be exposed inevitably.
My fear for loosing my money through bank runs is gone :) I don't even want dollars. I'm buying all the silver I can.
--N. O.
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Tonight, at www.seekbullion.com we have the newly minted rounds up for auction. Tonight, these are the first 3000 in 6 boxes of 500. See the pretty pictures.
 These come in plastic tubes of 20. We put 500 rounds per box. They are packed in an 8 x 8 x 8 box, with double thick cardboard rated up to 275 pounds, cut down to exact size, and taped up like crazy with special tape with tough cross threads, tougher than duct tape. They are all prepackaged, ready to send out. (Based on customer feedback, we beefed up our packaging materials.)
(Side note. A company, www.uline.com, has restored my faith in humanity. We ordered the new heavy duty cardboard boxes for about $1 per box, and got them in less than 24 hours! I was stunned. How can they ship so quickly, when 24 hour shipping alone would cost almost as much as the boxes??? They informed me they are one of, if not the largest customer of UPS, and thus get special deals! Amazing! If only they sold silver!)
We expect wires to come in 24 hours after the auction, and same day we get the wires, we ship via UPS ground, to anywhere in the US, which should arrive in 3-5 business days, perhaps a day or so longer now, due to the holidays.
We are now aiming to auction 5000 ounces of silver per day, or more. So check www.seekbullion.com daily now.
Due to the Christmas holiday, I just added two more auctions of 500 rounds at the start of tonight's bundle. Merry Christmas.
Sincerely,
Jason Hommel
www.seekbullion.com --site owned by Peter Spina
www.silverstockreport.com
www.bibleprophesy.org
-- Posted 23 December, 2008 | | Discuss This Article - Comments:
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