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 48 years of service, IRI has logged 400,000 transactions for 60,000 customers equaling $3 billion sold and delivered.
From the desk of Jim Cook
Howard
Back in 1978, I began to get subscription offers in the mail from a guy in California named Howard Ruff. It seemed like every other day I’d get a mailing. He was pro gold and silver, so I decided to give him a call. I got through to him right away and we had a nice conversation. However, he advised me that he had endorsed a coin dealer out east and was happy with that arrangement. READ MORE
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INSIGHTS from TED BUTLER
OCC Stunner
The new quarterly derivatives report from the Office of the Comptroller of the Currency was released covering Over-the-Counter (OTC) derivatives positions of U.S. banks. The new OCC report shows a stunning reduction in derivatives positions in the precious metals category held by JPMorgan along with a shocking increase in derivative holdings by Bank of America. JPMorgan’s share of precious metals derivatives has been shrinking for the last couple of years. I believe this is a result of its decision to abandon its dominating control on the short side as a result of it having amassed the largest physical (non-derivative) position in silver (and gold) in history. In other words, they are getting rid of their paper silver while maintaining their big physical position. READ MORE
