INVESTMENT RARITIES INCORPORATED

Was founded in 1974 by Jim Cook, and has since grown to be one of the nation’s leading silver and gold dealers. In the 50 years of service, IRI has logged 400,000 transactions for 60,000 customers equaling $3 billion sold and delivered.

James Cook Market Update Newsletter

Edited by best-selling author James Cook

Name(Required)
Address(Required)

SIGN UP FOR FREE Get the latest analysis from leading silver expert Ted Butler, as well as hard-hitting commentary from other top analysts on precious metals, economics and big government.

FROM THE DESK OF JIM COOK

PROFIT AND PROTECTION

The economy gives every impression that it’s going into a recession. That’s in spite of massive government spending. Only more of the same money and credit expansion can keep a downturn at bay, but that is highly inflationary. Confidence in the dollar has for the first time slipped a bit. That’s powered up gold and drawn attention to silver’s low price. Nobody seems to be too worried about financial affairs, but there are legitimate reasons to have concerns about the future. 

INSIGHTS from TED BUTLER

Losses

The Office of the Comptroller of the Currency’s Quarterly OTC Derivatives report covers the over-the-counter derivatives positions of the U.S. banks. For many years, the only two banks that mattered in the precious metals category were JPMorgan and Citibank. About three years ago, Bank of America burst onto the scene, as a giant new participant in both silver and gold. It quickly became clear that BoA had established an OTC short derivatives position on silver in excess of one billion ounces (mostly as a result of lease/short sale arrangement with JPMorgan). The position was so large that I wrote to the OCC (and other regulators) through my congressman’s office. The OCC replied, but neither confirmed nor denied my allegation that this was an extremely dangerous position for BofA but did agree that it was a serious matter.

Consultant to Investment Rarities Inc.

Start typing and press Enter to search