I read this yesterday and it seems like a great idea. I would certainly participate depending on how successfully it is set up.

The solution: A NEW MARKET!

The solution to all these problems is self evident to me now. We just need a better trading site for silver and gold, much better than COMEX, where people cannot sell what they don't have which would eliminate the fraud of unbacked futures contracts. Such a site should have lower fees than ebay, and where people can place bids for fungible metals products, unlike what ebay offers.

A new metals market will do several things. Primarily, it will encourage and facilitate individual action in a free market. It will accomplish this, because:

1. It will reduce the spreads, and thus improve the liquidity of silver.
2. It will create a more liquid market for silver, which will enable and encourage arbitrage profits, so that others can take delivery from COMEX, at their risk, to their profit.
3. It will create a new price structure, from which miners can expect to be better compensated by the refiners.
4. It will enable continued trading of silver, as the site would tempt silver out of the hands of the public at real market prices, and thus keep people away from hoarding food which could cause mass starvations around the world.

Fortunately, my top programmer is on it, and I'm in contact with other people who have expressed interest in trying to create a new metals market. If we are all very fortunate, my programmer will have this project completed within 3 weeks.

To encourage him, or share your ideas, email shelbymoore3@yahoo.com


Sincerely,

Jason Hommel
www.find-your-local-coin-shop.com