Tom welcomes Bob Coleman back to the show, and he brings his insight into the precious metals space and outlines the overall complexities of the futures markets.The Comex had a lot of metal coming onto the exchange last summer because premiums were high. He explains how the arbitrage market has changed at the Comex and why a lot of metal is coming off the market.He explains backwardation in the futures market and the various terms like open interest and eligible that the Comex and the LBMA utilize. The CME group has a delivery report that shows how many warrants change hands; this report has nothing to do with physical bars' movement. The warehouse stock report is a better indicator as it shows the actual movement of metal.The Comex still has metal, but outflows have increased, and in some cases, it's taking a bit longer to get delivery. Significant demand from ETF's has put stress on participants, and therefore the lease rates have moved higher.Jeff Currie's comments on his recent CNBC interview may have been misunderstood since ETFs aren't legally allowed to trade on futures markets. However, the authorized participants who deliver metals to the exchanges could be holding futures for the metal, either long or short.He explains some of the differences between the regulations for the Comex and London Vaults.There are several differences between holding physical metal yourself and having shares in an ETF. Consider holding metal yourself. ETFs are convenient, but most investors don't realize that you have no claim to the underlying physical metal. Also, your shares may be controlled by other entities that could become insolvent or force you to settle in cash.Bullion premiums are so high that some investors may be taken advantage of by dealers. He encourages investors to shop around especially considering that you will probably be waiting several weeks to get delivery. Silver premiums on some items may be high due to a lack of supply of specific products. Currently, there are minimal physical sales back onto the market.Time Stamp References:0:00 - Introduction0:32 - Comex Arbitrage2:25 - Futures Backwardation3:22 - Comex/LBMA Terms5:27 - Comex Squeeze & Demand7:46 - Silver Product Demand9:07 - Tightness Vs. Shortness10:29- London Lease Rates12:20 - Bobs Recent Article14:02 - Jeff Currie's Comments16:24 - ETF's & NAV17:23 - LBMA Custodian Concerns19:26 - Physical Vs. ETF Shares23:21 - Physical Dealer Premiums28:14 - Liquidity & Exiting31:00 - Wrap UpTalking Points From This EpisodeComex and premiums in futures.Understanding Comex reports and terms.Benefits of holding meta yourself.Bullion premiums and high demand Mint products.Guest Links:Twitter: https://twitter.com/profitsplusidWebsite: https://www.goldsilvervault.com/Bob Coleman is a Registered Investment Advisor since 1992. In 2001, he founded Profits Plus Capital Management, LLC (RIA) and Dollars and Sense Growth Fund. Recognizing the necessity for physical metal storage, he founded Idaho Armored Vaults and Gold Silver Vault in 2008. They are a distinguished and respected leader in the precious metals industry specializing in storage, transportation, shipping logistics, and security.
It’s already February 1st, 2021 and you’ve guessed it! We’ve pivoted yet again and are excited to launch our new AmiSights Podcast. This week’s special guest is Bob Coleman, Editor of the Coleman Report, a trade newsletter for small business bankers and a nationally recognized expert on small business financing. In our inaugural podcast, Ami sits down with Bob and discusses what the SBA has done during the pandemic, the differences compared to the Great Recession, the PPP, the EIDL, and their thoughts on what’s to come. The weekly AmiSights Podcast will feature dynamic interviews with entrepreneurs, thought leaders, various industry CEOs, industry professionals, public speakers, and more about their unique insights, practices, and valuable life experiences. Join Ami Kassar, CEO of MultiFunding, and his unique humor as we embark on this new adventure together.
1: What the SBA has done during COVID & Thoughts on What’s Next with Bob Coleman
In our inaugural podcast, Ami sits down with Bob Coleman, Editor of the Coleman Report, to discuss the PPP first and second round, the EIDL, what the SBA did from the start of the pandemic, and their thoughts on what’s next! Author of “Money Money Everywhere and Not a Drop for Main Street“. Coleman is the Editor of the Coleman Report, a trade newsletter for small business bankers. He is the nationally recognized expert on small business financing. He has appeared on Fox Business News and CNN and has been quoted by all major financial media outlets including the Wall Street Journal, New York Times and Bloomberg. He has spoken at numerous small business banking events across the United States, including international engagements in the U.K. and Germany. Coleman has a B.A. in Medieval History from the University of California Santa Barbara and a M.B.A. in Real Estate Finance from the University of Southern California. Recorded on 12/02/2020.
Gold and Silver COMEX December Delivery Preview: Bob Coleman
Arcadia Economics Gold & Silver Podcast
Many analysts and traders are expecting record-setting delivery numbers for gold and silver in the COMEX December delivery month. So for tonight’s show, Bob Coleman of Idaho Armored Vaults joined to explain what to expect, what the delivery numbers really mean, and how it might impact the price.To find out more, click to listen now!
MacroVoices Spotlight #2 Bob Coleman: Private Vaulting of Precious Metals = Independence from the Financial System
When private investor Bob Coleman set out to find a place to store his own precious metals OUTSIDE the financial system, he found all the vaulting services had conflicts of interest, so he started his own!Link: http://bit.ly/2lMOzAv