“SLV” in Danger!

The Web site, thestreet.com, tracks the risk-adjusted performance of more than 15,000 mutual funds, nearly 6,000 stocks, and more than 300 ETFs, and evaluates the financial strength of more than 13,000 financial institutions. I’ve linked to them in my “Rate Your Bank” post.

They’ve now downgraded the silver ETF “SLV” to an “E-“, their worst possible rating.

slv-rating

The interesting thing is that the StreetTracks-backed gold ETF “GLD” is rated at “A-” so they’re not picking on silver, the terrible rating for SLV is more an indication of concern about its backer, Barclays Bank.

This is why it’s always best to own PHYSICAL gold and silver, in your possession. 99.9994% of mine is. Guess I’ll be closing out what little I have in SLV, now.

◊◊◊◊ Now: Gold @ $810.10, Silver @ $10.25, USDX @ 86.10 ◊◊◊◊
◊◊◊◊ Now: DJIA 8,524.71

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7 Responses

  1. SLV is still in trouble be cause people are realizing that JPM doesn’t actually have the physical silver it claims and even in the iShares contract it states that in many cases they don’t have to. Read the fine print and BUY PHYSICAL : http://silveristhenew.wordpress.com/where-to-buy-silver-as-an-investment/

  2. Scott, wouldn’t it be something if we could establish and promote a legal fund through your site or maybe David Morgan’s that would offer a reward to any individual or individuals that would come forward and expose this obvious Comex crime in progress. We could get this out to all the big PM sites and ask for donations to a registered account. No one to date has offered this idea so far, but I think it could work, as there are many people interested in the outcome. There has to be a few underlings working at the Fed, Comex, etc. that are aware of the crime but have not considered coming forward and testifying with info that could really bust this crime in progress.

  3. I suspect the City is on the verge of collapse. Between bank failures, derivatives and currency devaluation, they are in big trouble.

  4. iShares is one of the first and largest ETF vendors. Have all iShares (Barclays) ETFs gone to E+ (very high risk). Would the central bank of England really allows Barclays to fail? It would be the end for The City, wouldn’t it?

  5. Could someone look up IAU there. That is Barclay’s iShares Gold ETF – exactly the same as GLD, just a different bank holding it. That should tell us more. I don’t subscribe to theStreet.com and am pretty sure this is premium content.

  6. Burninghands- Your comments are astute and appreciated. Thanks for reading!

  7. This piece of news STINKS TO HEAVEN!!! Evidently the PTB (Powers That Be) are fully aware that the COMEX risks to default on silver (and gold) deliveries, so what they are trying to attempt with this downgrade is to get investors to get out of SLV and force it to liquidate physical positions and make them available on the market.

    Good luck! (so to say…)

    I have no idea what this downgrade will mean for big investors like hedgefunds etc, but in my opinion hardly any individual investor will let go of his grip on their marbles.

    After Porsche announced they owned around 74% of all Volkswagen stock between stock and options and another 20% being held by the regional government, within 48 hours the shorties scrambling for the exits pushed the stock price up by 400% (from 255 to 1050 Euro), making VW for a couple of hours te highest capitalized company on the globe – helped by the fact that the shorted stock amounted to 15% of the total vs. 4% of free float.

    IMO they will – if ever – manage to delay the take-off of silver as opposed to gold for a short while, but as the bottomless bailout of the WS banksters, their efforts will be of no avail.

    Thx for the great information, I will add your site to my daily digest.

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