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I do! But never enough
Zerohedge, this is not a story. Silver eagles are still being produced...in mass quantities. They are not out of silver. They have not produced direct purchase gold proofs or uncirculated coins for over a year and yet you can still buy gold coins from dealers.
I'm not saying this couldn't happen at a later time but right now this headline is completely false.
It's good for page views. Gotta keep those hits a rollin'!
I suggest more stories on Gaza.
I am Chumbawamba.
Guess your right Chum.
This really is an ill informed headline, though. Not something I see very often on this site. This is not news and should be taken down.
Spitzer vs Greenwald
I'm surprised they allow him back after Huffington vs Greenwald.
Wow. I forgot what an utter douche Elliot Spitzer is.
Bring back the loop of him begging for forgiveness with his shrewish wife constantly looking over his shoulder. Oh, wait, thanks, YouTube:
Hey, Dumbo, next time take your socks off before you get your rocks off!
Sorry to disagree. Yes, thay are still minting ASEs to the extrapolated rate of 36 million this year, a record, and most of the US 40 million oz annual production. Law dictates US minted coins will only contain domestic PMs. The Mint article refers to numis collectibles, namely ASE Proofs and "W" burnished ASEs.
These were not produced last year either when mint produced something like 29 million ASEs.
The Statement from the US mint:
"Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended......"
"Silver eagles are still being produced...in mass quantities."
So I ask you, can you not read, or are you privy to some inside information the rest of us don't have?
Funny story - Paulson suspended the production of gold eagles in September 2008, when never-neverland (COMEX) prices went below $800. The same phoney-baloney "we forgot how to make coin blanks" excuse was employed then as well.
In case you don't remember - that was precisely the moment you should have bought gold with every last paper dollar you could borrow.
So what's different this time? NOTHING
what he means is that they are still being produced for bullion sales, just not in proof or unc varieties, which is what the statement says. hence they are not out of silver at all, just too much demand to allocate any metal to the more 'collectable' products.
You're right - my mistake.
still more demand than is comfortable. hopefully they run out completely and the comex blows :D
Paging Yukon Cornelius!
I'm glad that I still have my 3 gold claims in Alaska!!!
Yeah, and now that shortages are here again should we expect a big drop in price on the COMEX?
HA! I know what you mean. The hours of Nymex trading for precious metals have been pretty subdued for the last month compared to the world, from my observation. It seems there has been a lot of money raised recently with the intent of purchasing gold, and the price stays contained. 3 share issuances by the major gold etf's (CEF, PHYS, GLD), Iran's intent to buy gold, Russia's purchase of gold, the large bullion retail shops selling out, near record high purchase of gold from the U.S. mint in May, and not meeting demand in silver. *taps the screen* Do the guages still work? Is this thing on?
Strange days... http://www.youtube.com/watch?v=E4eP8bGSwXE
And where will that replacement bullion come from?
JPM of course! aren't they short 200 million OZ?
Sure, if you want PAPER American Silver Eagles...
didn't Tribeys get lynched back in the middle ages when they were found to NOT have the metals backing their certificates?
Are you suggesting we make silver eagles out of paper? Why hasn't anyone thought of this?! It's so crazy, it just... might... WORK!
We don't need no stinking Silver, plenty of tungsten in them there hills
Glad I bought a bundle at $9.
Hey, great minds buy silver alike ;)
Hey Jake, That link didn't provide any documentation at all. What's the deal?
Thanks. Didn't see the date up top....
Go to the usmint.gov site - click Shop Online - click American Eagle Coins - select either Silver or Gold proof/uncirculated - looks like they're out of gold too.
They keyword being "proofs".
Much different than your regular, homely bullion coins.
There is no supply outage...yet.
Better get it while ya can!! Gold too! and a wee bit of lead is a good deal too.
Bring in the fiat flunkies! We need debunking.
You'll have huge spikes in both directions, the fun doesn't start until the credit system completely collapses. You are still living in the good times, wait till the collapse and then the liquidation process.
"There is no out, there is only in"
It doesn't matter what you use as your medium of exchange in your system, eventually poof, the system collapses.
That is because our system is growth-dependent. See my comment below regarding gold and oil.
There is nothing wrong with a fiat paper system or any arbitrary economic system.
However, OUR system is one of debt-based money REQUIRING production growth in everything...always...forever. Or IT collapses.
There will still be credit in the absence of *aggregate* growth, but credit will be limited to discounting REAL bills, and to specific circumstances. You won't be able to base an entire nation's monetary regime upon it.
Wake me up after liquidation, see you in a few generations.
Eventually humans will start the process right over again, been going on for thousands of years.
"Same as it ever was..."
It is somewhat entertaining to watch the action, everyone thinks there is an out. Great entertainment. Lemmings come to mind.
There isn't a future after liquidation.
As long as the energy supply curve maintains its peak and EROI continues to decline, we're done with growth.
If we do not invent fusion or some radical breakthrough elsewhere which permits GROWTH in energy supply, then this is a forever kinda thing.
I figure inflation is dead for at least a generation but my guess is probably 2 generation, Japan will be in the process from peak to final liquidation 80-100 years at least if measured from 1989(peak).
I kind of agree with you in a general sense but if liquidation runs long and harder than I believe and say you wipe billions off the map than eventually you will have growth unless we are entering another Dark Age. Either way this system is toast for the rest of my lifetime.
The unwind always happens much quicker than the wind-up.
Take your estimates down by an order of magnitude, at least.
Nukes would the fastest process, of course extinction is a possibilty if used.
I can't rule out another Dark Age.
I would tend to agree with you in general the downwaves are sometimes quicker, but life is cycles and cycles within cycles.
Despair in humans can bring out the worse. Last time took between 20-30 years depending how you measure, the system is magnitudes larger now. I figure 30-50 years on the low end for the global system, not counting Japan.
It's already invented. It's called zero-point technology (google it). This innovation, like the precious metals, is also being suppressed as the powers that be cannot capture it to a point to where its dissemination to humanity would be profitable. Think of our current reliance on fossil fuels and what the alternatives could be (more importantly, could have been years ago) were it not for the massive manipulation and profits by the Halliburtons, etc......
mako, you end up sounding as if you are a thousand years old and live on the moon. As if none of the mess we are in concerns you.
not that i disagree with you, i dont doubt you, its the way you state things makes me want to pee. lol
Ridiculous. As long as there are two people there is a medium of exchange. Even in prison people barter what little they have.
I don't think anyone would disagree with that. Medium of exchange is what two or more people agree to.
Perhaps you should better explain what 'system' you expect to collapse. The wealth-extracting ponzi system? If so, good. But you usually say apocalyptic things about tanks crushing people in the street and total depopulation as if an asteroid hits the planet.
The system necessary to conduct trade, life, etc. is very old and can continue quite well without Wall Street.
"ponzi", I would call it an unsustainable pyramid scheme, in 2007 you ran out of bricks.
Well, war or civil war or conflict is usually used to speed up the process sometimes unknown to the people involved. I mean if you are starving and you are in despair, do you sit there and starve to death or do you go over and rob your neighbor? Some are going to pick robbing the neighbor.
It doesn't need to be a tank, it could be a guy in a horse and sword, or starvation and disease. War is the fast process see Hilter he enjoyed cooking the non-funded liabilities. Hilter was the world's white knight, of course none of the greedy bastards back then would admit it.
You are one strange dude, Mako.
Some people already rob their neighbors, and some already barter. There is a range of possibilities.
I use to be like you until I stopped listening to the people that told me how things work and operate and how they actually do operate.
We were born into lies, seeing through the lies is tougher than knocking down walls with a toothpick.
I pretty much agree with you, but WW2 did not cover the entire world.
Why not GTFO? You talk about worldwide liquidation and WW2 when most places saw no evidence of the war at all.
I agree there was somewhere to run to back then, this time it won't be so pretty. IMHO Hilter was pre-fire to clear the underbrush before the wildfire came and destroyed even more long-term. IMHO Without Hilter the process would have been much longer and might have even been more deaths involved, in no way am I saying Hilter was good. No people are greedy which is why we are at this point once again.
Basically all of Europse, 2/3rds of Asia, little to destroy in Africa anyway.
The current system is magnitudes larger and will require much more cleansing. IMHO I figure a 1-2 billion, we'll see, well probably not, I doubt I make even close to the end of this.
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