>Andrew Maguire I started searching info about him and he seems trustworthy, reputable. He is basically waging war against the commodities fraud market himself. However, I also came across Kinesis. I'm kind of having a hard time wrapping my head around how it works but it's basically an exchange that combines fiat, crypto and PHYSICAL commodities! They promise full physical hedging, free holdings and even yields for using it. I've been reading what people have been saying about it and they've gotten their withdrawals without problems, even physical withdrawals.
It's a very exciting exchange on paper to be frank, but I have my doubts for things like these. On one hand it sounds way too good to be true but on the other, it's being backed -- basically it was created -- by ABX (Allocated Bullion Exchange) and Maguire himself of course. Here is a video where he tries to explain the exchange: youtube.com/watch?v=JSqGCIBZja0
Thoughts on this? It seems to be run by trustworthy people but it seems to be just WAY too good to be true!
Kinesis is very similar to BullionVault/GoldMoney/OneGold/PHYS & PSLV/GoldSwitzerland. People can buy both segregated and "allocated" metal with these services. Basically, there are three levels of gold ownership:
1) Unallocated gold. This is what you get with the fraudulent ETFs GLD and SLV. You buy a claim on the banks, not on the gold itself. This means that, when the ponzi-scheme falls apart, and the metal is found missing, the banks can pay you off in worthless paper.
2) Allocated gold. This means that you "collectively" own direct ownership of a gold or silver bar. It's not as if you own e. g. a specific coin which you can take out of a vault. But you do actually have a legal title to that allocated piece of the gold bar; and you know the gold bar exists, because the company will give you access to a bar-list of all the bars in its vault, along with having regular audits. If you get more money, you can buy more and more of the gold bar until eventually you own it; and the gold bar can never be withdrawn until somebody actually does have full ownership: which leads us to
3) Segregated gold. This is when you actually register a gold bar in your own name. You can do this on GoldMoney and the other services I mentioned. For example, if you accrue enough allocated gold so as to make up a kilo bar, you can register a kilo bar in Switzerland, Singapore, or wherever you see fit to do so. It is then legally yours to take possession of, or to do with as you wish.
The allocated gold system is how gold and silver could function exactly like crypto. It allows us to break gold down into as small fragments as we wish, just as we break down Bitcoins into satoshis. It is possible to buy a cup of coffee with gold right now. GoldMoney used to be called BitGold. youtube.com/watch?v=BjqzyqRz_Mc&ab_channel=Goldmoney
Oliver Campbell
go back to plebbit if you dont like it
Evan Nelson
Sell GDXJ to buy more individual junior mining equities? I'm thinking that SILJ/GDXJ aren't as "junior" as they purport. A lot of these companies have huge market caps.
Brandon Hughes
This and 3 of the 2oz hounds, anyone picking up anything cool?
What’s a good copper to silver and silver to gold ratio to strive for? I’ve got 900 jew bills or so to blow this week on PM.
Parker Flores
All copper rounds off ebay
Daniel Evans
I think he means relative to the real small-cap juniors. Impact has only a 150 million market cap, Dolly Varden is only 100 million, CCW is only 60 million, and Bayhorse is only 20 million. Compare that with e. g. the 12 billion market cap of Kinross, the largest holding in the GDXJ, or the 3 billion market cap of Hecla and First Majestic, the largest holdings in SILJ. Then in the GDX you have Newmont and Barrick, with 70 billion and 50 billion market caps respectively. All these companies will do extremely well, but if you want to get 150x+ gains, it seems necessary to hunt after the companies with at least a sub-500-million market cap.
Dominic Sullivan
Thank you for the detailed answer user. Would you say Allocated and segregated gold are equal in value, or would you say segregated is always better? Also how does Kinesis fare against these other services? How does one go about comparing them? I'm interested in allocating part of my paper in them, especially if they offer as much liquidity as they promise
This is why I've been annoying you with questions about nanocap miners (
Anthony Allen
Personally, I have only bought enough allocated metal in these companies so as to register bars and segregate my holdings. But I think that allocation is the safest way to buy bullion, after registering it or holding it in your own hand. Allocation is based on an old and respected legal principle in the common law whose name I have forgotten. I haven't invested much into Kinesis; the only thing I know about it is that I really like Andrew Maguire. I can say from experience that BullionVault is very liquid: you only pay a 0.50% commission (same as Coinbase) to purchase your allocated bullion instantly, can sell it instantly for the same fee, and withdraw the fiat into a bank account on the same day.
Julian Young
waited over a month for these bad boys to finally get shipped.
Recommend me some books about the basics of stocks, options, CFDs and all that crap, because I literally have no idea what I'm doing. I recently bought my first stocks ever (40 shares of first majestic and 10 of g2xj), at the brokerage connected with my bank account, selecting buy at market value, but I was immediately at ~30$ loss.
Don't worry, it's not annoying in the slightest. I only come here because I like to share what small knowledge I have with others.
There's another microcap silver stock which I thought people might be interested in, but it's a real gamble. The thing is shrouded in mystery. It's called Silver Spruce Resources. Market cap is only 11 million, but the word is that they have a resource called Pino with _120 million_ ounces of silver. Sprott gets excited about DSV having half a billion ounces, and the market cap of that is 700 million. So Silver Spruce is potentially the value-trade of a life-time. Problem is, the management team is a ghost, and nobody has heard much from them in over a year. "oldbanker" on ceo.ca, also called Silverrichman on StockHouse, is an enthusiastic supporter of it. He has invested deeply in the stock, and believes in it 100%. He has a lot of credibility: he said that East Asia Minerals, for example, was a good stock before it soared up recently. But there's also a lot of confusion and doubt. I've also heard that Silver Spruce even has exposure to uranium in some way, but I don't know much about it. At any rate, would be interesting to hear if anybody knows anything about this stock.
Kayden Harris
Nice. Those are the only bars I buy. Supreme taste.
Justin Davis
Post stack? If I ever see those at my LCS in any reasonable quantity I will trade as many different bars as I can for it. A pile of the 10oz stackers sounds comfy.
Christopher Morales
You might want to go to /smg/ (Stock Market General) for more info but I can give you my own recommendation still. I have barely started investing myself but I've started by reading a book called Master The Game that my coworker and friend graciously lent to me, which has helped me to understand the basics of finance. Pic related. It doesn't go too in depth regarding complicated investment tools but I think it's a great place to start.
The main theme of the book is attaining financial freedom, or financial independency (not having to work any more if you don't want to). The book walks the reader through most basic economic concepts and investment tools, with an emphasis in the most efficient, risk-free investments and strategies. I've almost finished the book and I am in the final 100 pages where author Tony Robbins interviews multiple high profile investors the likes of Warren Buffet and Carl Icahn.
Master The Game has been a source of optimism and easy-to-digest information for me. I wholeheartedly recommend it as a first step in investing! >Personally, I have only bought enough allocated metal in these companies so as to register bars and segregate my holdings. >I think that allocation is the safest way to buy bullion Do you mean you've allocated your funds in these companies enough so that you have some physical stake in each of them? Or what?
>I can say from experience that BullionVault is very liquid: you only pay a 0.50% commission (same as Coinbase) to purchase your allocated bullion instantly, can sell it instantly for the same fee, and withdraw the fiat into a bank account on the same day. That's a very low price when compared to most physical bullion dealers' premiums. But do those services deliver the commodity to you, as Kinesis promises to do?
Bank brokers probably still charge fees for every transaction. They add this cost to your unrealized losses so you always start "in the red". There will also be fees to sell. And the fees may be different depending on how you choose to buy or sell. The popularity of brokers like TDA, Schwab, etc. has been to remove those fees. They make their money on your transaction data (for better or worse). As for the markets in general, the decision you make is whether you want to be an investor or a trader. Investors hold any security (like a stock) for at least a year or more. Traders hold for less and daytraders buy and sell the same stock the same day, sometimes many times a day. The resources for both are quite different with a little overlap. I will take it you are an investor. The bible of investing from which everything else adds or subtracts is Security Analysis by Benjamin Graham. It is unbelievably dry because it basically turns you into an accountant that pores over financial statements but the point is that you YOURSELF calculate the metrics since you are the only person you can trust with that info. It was written with stocks, but can be applied as a foundation for miners. For the mining space in particular you generally look for names like Eric Sprott, Michael Maloney, Rick Rule, etc. Keep in mind that they all have a vested interest in perhaps selling you on what they hold but the point is to get a feel for what they all seem to value in common.
>>Do you mean you've allocated your funds in these companies enough so that you have some physical stake in each of them? Or what?
What I mean is, I'm unsure enough about the legal principle behind allocation that I prefer to buy enough metal so as to be able to register and segregate. But if I didn't have the cash to do that, and I either couldn't or didn't want to hold coins in my own hand, I'd trust allocation as the best way to buy bullion. The legal principle behind it is strong, and you have an infinitely better chance with allocation than you do with GLD and SLV. Alasdair Macleod, Peter Schiff, and Andrew Maguire, all support buying allocated bullion, and I believe them to be trustworthy.
>>That's a very low price when compared to most physical bullion dealers' premiums. But do those services deliver the commodity to you, as Kinesis promises to do?
Yes. You can order physical delivery of a registered bar on any one of them. The only exception is Sprott's PSLV and PHYS on the stock market, where you need to own quite a few bars before you can take delivery (don't remember how many). But even then, at least the principle is there that you _can_ take delivery as a retail investor, which you can't do with GLD and SLV.
I'd like to add that the book takes its sweet time discussing important aspects of finance that aren't related to investing (like saving money, setting goals, planning for pension, etc...) before actually getting to the meat of it. Another thing I'd like to add is to read with a grain of salt, considering the book recommends (or suggests -- there is always a disclaimer with these kinds of things that they are not to be taken as financial advice) investing heavily in USA's short term & long term securities.
The reason why I feel like that kind of investment isn't as safe anymore as it has been for centuries is because of the increasing debt bubble of the United States (well over 26 TRILLION DOLLARS of debt, and debt to GDP ratio of 136,75% at the time of posting and steadily growing, seriously check it out and fear for the future: usdebtclock.org/). The book recommends TIPS, or Treasury Inflation Protected Securities which are a sure investment because the returns you get are adjusted for inflation, but there's no point in investing in that if the USA defaults on its massive, unfathomable debt. I'll probably just buy Canadian securities instead considering their debt to GDP ratio is a much healthier 35%.
Michael Kelly
Is it possible that many of these nanocaps are intentionally not marketing? I’m not sure what the reason would be, but startups in other industries often exist for the first months or year or so of their lives in “stealth mode” ie. With no marketing or public information whatsoever until they’ve reached a certain threshold of capital and operating ability. Is that also the case in the mining industry?
John Brooks
Yes, this is very possible. Klondike Silver might be an example of what you're talking about. I've said in another thread that it's often a very good thing when the chat-room on ceo.ca is fairly empty, or only has a handful of enthusiastic supporters. By the time the CEO is giving glossy interviews on Kitco, or Sprott is investing in the company, it's often too late to get in at the best price. On the other hand, there's always the danger that it's simply an empty shell and a scam company.
