Recently, I just became aware of what apparently is a growing interest in the multi-level marketing business : silver. It’s not hard to see the appeal. After all, anyone reading this is probably already well versed in the benefits of physical ownership of silver and protection against a diminishing US dollar. To anyone new to the arena, though, the sales pitch can be convincing. Unfortunately, like most ‘wealth-creation’ schemes, those late to the party are only enriching the founders.
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Silver sale won’t last
After the downgrade of the US credit rating by S&P, headline after headline has been trotting out to upgrade gold price targets. The biggest one was by no other than JP Morgan, noted large commercial silver short, expecting $2,500/oz gold by the end of 2011. This particular prediction was the first I’ve see that was substantially away from the current market.
eBay Free Lunch is Officially Over
I suppose it eventually had to happen. Courtesy of a FatWallet email earlier today:
Dear Valued Member,
We want to share recent news that may pertain to you since you’ve made an
eBay purchase through FatWallet this year.At eBay’s request, in accord with a test they are conducting over the next
several months, we will be suspending eBay cash back. This means eBay will
not be offering cash back on any site, including FatWallet, for purchases
made on or after 6/16.We will let you know as soon as eBay cash back resumes. We are sorry for any
short-term inconvenience this may cause you.Best Regards,
FatWallet
eBates and others have suggested their respective programs hope to return by October 1st. I suspect, however, that eBay will end up ditching these programs altogether. Their eBay bucks program keeps the money in-house, and shareholders can’t be keen on the company paying referral fees in an age when its brand awareness, 4 years ago, was even stronger than that of Amazon. I can’t imagine it’s any less today.
While I’ll miss the extra 1 or 2% cash back (which you could stack in addition to the 2% eBay bucks credit), eBay bucks alone is still a good program to reinvest into future silver if you’re a persistent buyer on eBay.
Physical Markets Ignoring CME/Comex Manipulation
As if you didn’t need more evidence to suggest that real, physical holders of silver could care less about the fraud-ridden, margin-crazy, Comex paper-silver market pricing, check out the latest eBay data coming out of 24hr gold. Nearly a MONTH after silver almost pushed $50/oz and tumbled almost a full $20 backward thereafter, you’d think that all those ‘suckers’ who bought on the way up would try to be unloading at any price, wouldn’t you?
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