Another Reason to Stack Physical Silver
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An interesting article came across the wires today, and if you are "invested" in precious metals mining companies pay very close ATTENTION!
Well, yes it is rather frightening if you own stock in silver mining companies.
The largest silver mining country in the World did something that is very noteworthy today.
First, do any of you know who the number one country in the world is for mining silver?
WRONG!!!!!!!
The correct answer is MEXICO!
The Mexican government said a little word that should strike TERROR into the hearts of every silver mining investor.
Now the Mexican government DID NOT "Nationalize" all the silver mines, just yet. The Mexicans did NATIONALIZE all the lithium mines in the country as REUTERS reports below.
Deeper in the article the Mexican Government promised to review ALL mining contracts!
So to be forewarned is to be forearmed!
Many of your favorite mining companies operate mines in Mexico. Due diligence is required to determine what would happen to the value of the shares if Mexico reviewed the contract and decided to Nationalize their silver mines.
So the lesson is, while paper shares are fun to trade, buy, sell or hold, this is no replacement for the physical silver in your own possession.
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Peace out and Stack On!
So much for the miners in Mexico, I like First Majestic but always worried about this scenario playing out when governments get desperate. My options expired out of the money anyhow. I gave them 1.5 years to hit 20 bucks and it didn't.
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This silver coin is nice. Liberty are some of the best to stacked !
Yikes, even the majority of First Majestic's operations are there!
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I know. I doubt that this is a risk in the near term given the current price of silver, however when silver runs the risks to mining shares will increase. Just something to put away and remember for future decisions.
Pretty neat bar. I like the buffalo nickel bar.
I think I'll get me some!
They are fun!
Dam no shit you don’t hold it you don’t own it
Just a friendly reminder. :)
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If Mexico nationalizes its silver mines, does this mean that the price of silver per troy ounce will got up drastically (say, a few USD per day for a few days)? If so, this will prove in yet another way how manipulated the silver markets have been due to excess "paper silver" out there.