(To End the Evil Surmisings)
Silver Stock Report
by Jason Hommel, October 24th, 2008
I’m not planning on auctioning off any silver next week.
However, my mom, may offer up to 7000 oz. of silver next week at both her ebay store and seekbullion.com, and my business partner, the owner of silveriswealth.com is offering 7 bags of $1000 face value of 90% silver coin that contains 715 oz. about 5 days from now at seekbullion.com.
Some have written me hate mails, about how seekbullion.com is not open to them to auction silver. I remind them that ebay.com pays more but they don’t care, they are filled with hate and envy and strife anyway. Why? What makes them think that if I have a car, that they have a right to borrow my car? They have no right to use a website that is not theirs! Seekbullion.com is run by Peter Spina of goldseek.com, and he’s opening up his site slowly, first to people he knows and can trust, and to major dealers second, and he is diligently working as much as he can in a given day of 24 hours. If they think it’s wrong for seekbullion.com to exclude unknown people, then let them create their own auction software, and let them open it up to anyone. Neither Peter not I will stand in their way. If Peter has a monopoly on a “low commission” bullion trading site, it’s certainly not a government granted monopoly, but a monopoly of proprietary information and education and preparation that he deserves for being willing and able to take the risk of a new venture. I only hope that Peter can make $5-10k per week with the site or more, to cover his expenses, and I know he’s both spent himself into the ground and working himself to the bone just to get started.
The fact that I cannot sell any silver next week has nothing to do whether silver will be up or down. It’s entirely related to my own personal business improvements. I have 4 major multi-day projects that I would like to accomplish next week, which will take my time away from auctioning silver. All 4 of these projects will help me “ramp up” to continue to expand the business. Yes, I could “take your money” and merely promise you delivery in 2-3 weeks, which would be far faster, and “more honorable” than those scum bags who say that delivery is 12-14 weeks out. And I call them scum bags because anyone who knows where to go can buy 1000 oz. silver bars for 1-2 week delivery and contact a mint for 2-3 week delivery, and produce new product, entirely with customer money for a 4-5 week turn around time, which is my personal estimate for my own business. But I refuse to use customer money, and make the customer wait.
I choose not the “more honorable” road of a 2-3 week delivery time frame, but the “most honorable” road of only shipping “same day as wire comes in”. And since I don’t have time next week, I will not sell.
Let me share with you the wisdom of Paul to young Timothy, which explains the angst I feel from the evil men who make evil surmisings, or guesses:
1 Timothy 6:
1 Let as many servants as are under the yoke count their own masters worthy of all honor, that the name of God and his doctrine be not blasphemed.
2 And they that have believing masters, let them not despise them, because they are brethren; but rather do them service, because they are faithful and beloved, partakers of the benefit. These things teach and exhort.
3 If any man teach otherwise, and consent not to wholesome words, even the words of our Lord Jesus Christ, and to the doctrine which is according to godliness;
4 He is proud, knowing nothing, but doting about questions and strifes of words, whereof cometh envy, strife, railings, evil surmisings,
5 Perverse disputings of men of corrupt minds, and destitute of the truth, supposing that gain is godliness: from such withdraw thyself.
6 But godliness with contentment is great gain.
I’m quite sick of the many false accusations and evil surmisings, or evil guesses of many foolish, and envious, and hateful men, who post at chat boards and forums, where these evil men will claim that I’m selling out of silver to get out of silver, and buy into another market. They are guessing, and they are guessing wrongly, and they are guessing with evil intent, to try to cast aspersions on silver investors, or me, personally. Let me prove again that I’m not selling out. Here are my three latest silver purchase orders:
| Qty | Item | Price | Ext. Price |
|---|---|---|---|
| 1 | 1038.53 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,517.30 | $11,517.30 |
| 1 | 1048.98 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,633.19 | $11,633.19 |
| 1 | 1053.68 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,685.31 | $11,685.31 |
| 1 | 1058.31 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,736.66 | $11,736.66 |
| 1 | 1061.20 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,768.71 | $11,768.71 |
| 1 | 1062.23 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,780.14 | $11,780.14 |
| 1 | 1062.52 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,783.35 | $11,783.35 |
| 1 | 1062.97 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,788.33 | $11,788.33 |
| 1 | 1065.15 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,812.51 | $11,812.51 |
| 1 | 1069.37 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,859.32 | $11,859.32 |
| 1 | 1070.01 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,866.42 | $11,866.42 |
| 1 | 1071.81 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,886.38 | $11,886.38 |
| 1 | 1072.93 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,898.80 | $11,898.80 |
| Sub-Total$153,016.42S & H$0.00 Total$153,016.42 |
| Qty | Item | Price | Ext. Price |
|---|---|---|---|
| 1 | 1074.16 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,246.45 | $11,246.45 |
| 1 | 1076.12 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,266.98 | $11,266.98 |
| 1 | 1081.81 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,326.55 | $11,326.55 |
| 1 | 1083.71 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,346.44 | $11,346.44 |
| 1 | 1085.51 oz Silver Bar .9999 Fine – (Peñoles) – Brand New! | $11,365.29 | $11,365.29 |
| 17 | Silver Shot .9999+ Fine – (Peñoles 25-Kilo Bags) 803.75 oz | $8,415.26 | $143,059.42 |
| Sub-Total$199,611.13S & H$0.00 Total$199,611.13 |
| Qty | Item | Price | Ext. Price |
|---|---|---|---|
| 10 | Silver Grain/Shot .999+ Fine – (500 oz Bags) (Live) | $5,060.00 | $50,600.00 |
| 20 | Silver Shot .9999+ Fine – (Peñoles 25-Kilo Bags) 803.75 oz | $8,133.95 | $162,679.00 |
| Sub-Total$213,279.00S & H$0.00 Total$213,279.00 |
Many accuse me of losing money for my subscribers.
Many accuse me of seeking to only make money.
How ironic. What a contrast. And to be accused of both, must be quite an honor.
Why can’t the world see that I’m seeking honesty, and helpfulness? Because the world is blind. I know that.
I would guess that my readers and subscribers and buyers are in the top 0.1% of the smartest people in the world, the top 1/10th of 1% of the wise, who know that paper is fraud, and that gold, and especially silver, is real value.
This is why I don’t get many complaints from my readers, but more from people on chat boards around the internet.
And my dedicated readers know that while I pursue Godly gains, they KNOW that I do NOT presume that “gain is godliness”!
I know of so many ways to make so much more money than I’m making.
All I’d need to do is to take people’s money and claim to give them silver in the future.
Or even better, take people’s money, and guarantee them a paltry return of 6 to 10% annually, and then take the money and buy silver options, the most highly leveraged products for silver gains that exist, especially while silver is low, and make 1000% on the options and pocket the difference between 10% and 1000%! That would be a simple “hedge fund” business plan, not unlike a ponzi scheme, or “fraudulent ponzi scheme” some of which last for up to 10 years before discovery!
Or, you could open up an insurance company, and take the incoming cash, and buy silver, or silver futures, or silver options, or some combination. And merely declare bankruptcy if it does not work out due to short term fluctuations that may go against you.
Or, you could open up a bank, and take the cash, and buy silver, or futures or options on silver.
But while all of those business plans would make orders of magnitude more money than my current business, none of those are honorable.
One of the most lucrative and shameful scams in the bullion trade today is run by cash4gold.com. You see their TV commercials all the time. There’s an old senile lady saying, “I had no idea my gold jewelry was worth so much money.” Another younger gold-digging woman testifies in a Jewish accent, “I sent in my diamond wedding band from my first marriage and got money the very next day!”
Cash4gold pays between 40% to 50% of the value of the gold they get, and about 35% of the value of the silver. Yes, that’s right! They pay about 30-40% of the silver value for 90% silver coin that actually sells for above the silver value content! But I estimate that the cost to melt gold is about 1% of the value of the gold! They use big bucks to advertise on TV. And they boast of receiving 1000 packages a day from the public, so they are making a killing.
I cannot enter that business to compete with them in good conscience. Why not? Because I’m a gold bull, and especially a silver bull. I know that people need to own more gold and silver, not less.
Nevertheless, I would urge those who don’t have my problem of conscience to enter that business, to compete with cash4gold, if it does not bother your conscience to take gold and silver out of the hands of the people.
At least with competition, cash4gold would have to pay more to the people to stay in business!
And, may I remind you, it is far more lucrative than the business I’m trying to do, which is buy bulk 1000 oz. silver bars, and turn that silver into products that more people can buy.
If you own old gold jewelry, then I’d recommend that you sit on it. It likely does not take up much storage space. Wait for the time when buyers will offer you 90-95% or even 98% of the value of the gold and silver, which will probably signal the top of the market.
Don’t expect any emails next week. Maybe I’ll get something out. But I plan to be busy, a “doer”, working to set up an honorable business.
Wise words of wisdom:
James 1:22-24
22 But be ye doers of the word, and not hearers only, deceiving your own selves.
23 For if any be a hearer of the word, and not a doer, he is like unto a man beholding his natural face in a glass:
24 For he beholdeth himself, and goeth his way, and straightway forgetteth what manner of man he was.
John 15:2 Every branch in me that beareth not fruit he taketh away: and every [branch] that beareth fruit, he purgeth it, that it may bring forth more fruit.
John 15:6 If a man abide not in me, he is cast forth as a branch, and is withered; and men gather them, and cast [them] into the fire, and they are burned.
Jam 2:17 Even so faith, if it hath not works, is dead, being alone.
Next, to answer the many evil men who evilly surmise that I use religion only to “make money”. They are the most despicable of the men who criticize.
Read these in full, and tell me how people who follow God’s plans and laws cannot help but to make money.
Bible Verses on how to Manage Money November, 2005
The Use of Paper Money Violates All of the Ten Commandments July 2, 2006
If you are among those who feel you have benefited from my advice over the years, if you have the time, I would appreciate it if you would tell others, and refute the many nay-sayers who are cropping up all over the internet on the many forums that are out there. There’s only so much that I can do in a given day.
Sincerely,
Jason Hommel