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The US Government Doesn’t Want You To Know There’s A Run On Silver Bullion
It looks like the entire world is spitting out gold and silver as an investment or hedge, as the prices of both precious metals were tumbling in the past few weeks. Well, at least the demand for gold and silver ‘paper’ isn’t anymore what it used to be, but the demand for physical silver is really booming.
Reports have reached us from Germany that the demand for silver is really surging, and this is an interesting sentiment meter because Germany usually acts as one of the main distribution centers for the European Union. Several large bullion dealers have seen the demand for silver increase, and in just the next few days after last week’s crash, almost all dealers sold as many silver coins in just three days as they usually do in an entire month.
Now you can try to dismiss this easily by saying that the Germans and the rest of the European Union are simply preparing for an upcoming implosion of the Eurozone, but that couldn’t be further from the truth. The US Mint recently had to announce that there were no more silver Eagles in inventory, and that it would have to suspend deliveries for new orders. This announcement hasn’t been made public (why not, US Mint? Are you trying to keep the people dumb?) but was only sent to larger bullion dealers in the USA.
Source: US Mint
So did the US Mint miscalculate its production rate or was there effectively a surge in demand? Well, the previous image proves it’s the latter. The sales number of Silver Eagles in October almost TRIPLED from the August level and in just the first few days of November (there were only 3 trading days before the US Mint ran out of coins), another 1.26 million ounces were sold, and this brings the total year to date at 39.3M (and it’s quite certain last year’s sale number of 42.675M will be surpassed). We see the same demand increase in gold (see the next image), as the Mint sold more gold in October alone than in July and August combined. And here again, in just the first few days in November, the Mint already sold more gold than in several previous months and it looks like November will end on the second place in terms of demand per month.
Source: US Mint
A cheap argument would be that it’s the Europeans who are accelerating their purchases of Silver Eagles. That’s incorrect, as people usually buy silver Maple Leafs and Australian coins and not as much Silver Eagles which have a higher premium over the pure silver value. So this demand for the Silver Eagles (and renewed demand for the Gold Eagle coins) is coming from the USA itself and NOT from foreign demand.
All signs are indicating that both in Europe as in the USA (not so much in Australia, which – despite the big mining sector- isn’t in a bad shape from an economic point of view) the demand for precious metals coins is surging. It’s not surprising the US Mint has ran out of inventory, but instead of announcing it in a press release, it sent a secret note to the bullion dealers. As the US Mint is a government institution, it should really be no surprise the government doesn’t want you to know there a rush to get your hands on gold and silver.
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Jeez
I'll also be at Harvard this week - dumpster diving....
1. It is not surprising that as price falls, demand increases...sort of econ 101 really;
2. If the US mint is simply buying genuine bar silver (or gold), converting it into coin of the correct weight and assay, selling the coins at a premium after a (very) short inventory period, then US taxpayers should be delighted...it would seem to be a simple, fairly low-risk business that makes those taxpayers money.
Watson
Doesn't federal law require that silver eagles from the U.S. Mint must be coined ONLY out of silver mined domestically?
Too late! I already knew that there is a run in silver bullion!
You can thank Tricky Dick Nixon and The Industrial War Machine Complex for the Vietnam War and endless wars ever since.It was the way for corruption to destroy the gold standard and move the world to global neocon fascism led by U.S. Government nazis.The next step will be to end paper money all together and if you want health care you'll need to give your DNA and have an implant put in your arm.Think it's quackery?Sweden will be the first to go with it on a global experiment.
http://www.silverdoctors.com/pm-fund-manager-us-will-start-ww3-to-avoid-...
It was Lyndon Johnson that expanded the Viet Nam war. Kennedy planed to extricate the U.S. out of that quagmire. Perhaps another one of the reasons, besides ending THE FED, that he was murdered.
His murder was a coup by the international moneypower who are still in control and working to render the American People weak, defenseless, impoverished, and dependent upon their NWO.
Numbers published here on ZH recently suggest there's plenty more physical silver out there, if any of the mints cared to acquire it, but even the mint is going to lose money if they buy bulk silver today and can't sell it as coins for a couple of weeks, while the market price dives 2% per day. I don't know how much of a factor this is. Or what their total capacity is per year in any scenario.
Also have to note that a lot of people bought those eagles at much higher prices than today's, so the demand does not immediately impress as a reason to mint more. That said I wish they WOULD mint more because I still haven't bought mine! OTOH if prices continue to fall, well, I hope the mint finds some way to keep going all the same. I mean, they do seem to earn a buck a coin or so just on the manufacture, don't they?
Agreed.
Mr. GoldCore is a Gold Pumper At Any Cost.
He lacks any objective ability to look at gold over a longer term perspective.
Short term fluctuations in gold have the net effect of catching the less than well informed GoldCore buyer in a whiplash as gold prices continue to decline.
What Mr. GoldCore either is unaware of or is completely ignoring (or ignorant of) is that European governments around the world are now NET SELLERS of gold, which is contributing to the downturn in the price of gold.
And yes, this IS AN IMPACT OF THE IMPENDING SLOW MOTION COLLAPSE OF THE EURO ZONE as Euro Zone members scramble to obtain capital to keep their respective governments with at least an appearance of solvency.
NOW is NOT the time to buy gold.
GOLD = $900
SILVER = $13
Given the decline in price, this means people are spending less on silver reducong Sprotts hefty income from premiums and fees.
it was inevitable.
http://www.covert.co.nr
Silver has been the trading currency for the last 5000 years in both East and West , usually in the form of jewelry , ornaments or bullion .
It retains value better than gold , because there is less political interference . (CF FDR 1930's)
See
http://andreswhy.blogspot.com/2014/10/should-you-buy-gold.html
Sigh. Silver traded at ~15:1 to gold throughout most of history... until governments demonetised it, starting around 150 years ago. Since then it's lost ground, and - at times - been traded at ratios greater than 90:1.
So you're full of shit, pal.
What the Western world is lacking the most is EDUCATION! Of what Money really is!
At some point the people will learn en masse! that is when it will get really interesting.
Wether it's meant to be a secret or no,t just look at the facts, which are, Look at the amount of Silver and Gold that is being sold!
That is whats is important!
Sure, if you still believe that demand has anything to do with price. ;-)
You're absolutely right, to the extent that everything will shake out in the end though. Buy now, hold for whatever time it takes for the western central banks to fail completely, then proceed to laugh at the idiots that have no gold/silver (money). !!
This doesn't even happen once in a lifetime - this happens once, period! We can either take advantage, or we can bow to the central banks and pray for moar QE. It's confusing because it hasn't happened in any of our lifetimes, but it's pretty simple if you don't let the fiat experience/experiment get in your way..
At this rate supply is going to be in trouble in no time.
We are starting to reach escape velocity on physical buyers, the lower paper price is just spurring people on at this point.
Stack and hold, let the market come back begging for it's return.
I'm considering swapping a few oz of Au for Ag if I can find a local shop to play along.
GSR = 74
Opinions?
I'm considering swapping a few oz of Au for Ag if I can find a local shop to play along.
GSR = 74
Opinions?
That's what I've been doing, but spreads are too high that way. Sell your gold and then use the proceeds to buy silver at Bullionvault, and you have a low-spread way to duck in and out of GSR as you see fit. It's allocated storage, held out of the banking system, so there are storage fees. And in a mad-max breakdown you probably wouldn't be able to get your hands on it.
But in a mad-max breakdown you'll probably be dead.
Keep a core-holding locally and use bullionvault to nip between gold and silver as the GSR fluctuates to increase your overall ounces. That's my plan.
The general consensus if you look at people who play the GSR is like all. Buy low and sell high.
When the GSR is out of whack (but with these manipulated markets What is out of whack?).
Historical GSR was way lower but they have kept it above 50 for years. But consensus opinion in honest markets used to be to "trade" "switch" metals on the ration. So yes in a real world to switch at GSR 74 would ultimately benefit when the ratios came down.
Your 74 oz. of AG. could be switched back at what? At the high of $50/oz. I think GSR was down to 32. So you would end up with 2 oz. of gold with that switch.
YOUR guess is as good as mine here. I would be tempted (and am) to. With a bit of my AU.
Silver is trading like an industrial commodity during a deflationary cycle which is absurd.
Revel in the absurdity because it won't last forever.
Central bankers print the entire physical silver market several times over every month. That is all I need to know.
Can we run this experiment, what is everyone's absolute must have price point? Mine is 14$ buy everything I can, sell what I don't need and buy. If market price is always your buy point state that.
Could not help it...had to buy under 16. Just had to.
Cost the same per (coin) now than is did at a higher price a week or two ago. They over spot prices have doubled and more on many items.
Still dirt cheap either way.
Do not see the prices, anytime after this year, lower than what they have/will be by years end.
That's not entirely true. Yes, SAE and Maple premiums are going through the roof. So? Silver bullion can still be bought for .50 or .75 cents over spot from almost any big dealer. Trade your fiat shit for what gives you the best deal, but don't think just because SAE premiums are going up that you can't still get a good deal. ;-)
Wish Mark Dice would try that coin sale trick with me.
Looks like a California beach town to me. What do you expect?
Some of his videos are in San Diego (Pacific Beach/Mission Beach/La Jolla area) and some are from the Santa Monica pier, based on the landmarks.
This is the same guy who predicted $2000 gold in 2014...
Who gives a shit what this guy predicted?? If you can't see what's going on with your own eyes, then you're a fucking moron! What's happening has NOTHING to do with what this guy or any other guy predicts!
If silver is cheap and affordable, and there's no shortage whatsoever, then why doesn't the US mint use it for coins? Hmm, they did once. Had to stop. What was that last silver quarter dollar year, 1964? That should tell you everything you need to know. But if that doesn't do it, how about Bretton Woods? Gold at $35.00 an ounce. Now tell me that the US dollar has not lost its purchasing power. Even if gold went to half, it's a long way off from $35.00 an ounce. That should give you an idea just how much markets are manipulated. Once the BRICS countries sign up a majority of the planet onto a better managed reserve currency (it's 40% members now, by world population!), the dollar heads south, and rapidly. Think the price of gold will go down when the dollar collapses? To listen to the TV set, they would sell you on that and anything else to prop up this manipulated worthless paper crap. Watch Putin: he wants no war, just a safe boundary around the homeland, to keep the US from putting missle batteries near the borders. His main goal: sink the US currency as the reserve. He's not building tanks, he's building BANKS.
Most mints quit using silverb for circulating coins around the same time.
READ the Silver Stealers sometime.
USA had huge stockpiles of silver that were sold cheap to users/manufacturers/interested corps. for years. Silver has been controlled far longer and I suspect for far wider reasons than gold.
Silver was always a controlled metal. Dual purpose and dangerous as such.
Gold/silver = money?
fiat currency = money?
All else is academic nonsense.
Cheating way to whore after green arrows but I gave you one anyway.
A fair number of Old Geezers - like in the Wendy's commercial - would always carry one silver dollar coin in their pocket. If you ever doubt that silver is 'money', put three large silver coins in your pocket - feel the weight in your pocket - and listen to the gentle tinkle of silver-on-silver as you walk.
Maybe u can use silver dollars at Wendys, but not at Taco Bell, https://www.youtube.com/watch?v=Ef0VG1WEP10&list=PLa8S4GilqogSviCmzIY1jz...
That commercial denigrates silver, not to mention family traditions. Yes, the best use for grandpa's silver dollar is to trade it for some damn burrito. That's why grandpa passed it down over the generations, so some jerk could trade it for a cheap, nasty gut bomb.
That's why grandpa passed it down over the generations, so some jerk could trade it for a cheap, nasty gut bomb.
But you forgot about the "bullet hole" in it which grandpa forgot to mention would make that silver dollar unredeemable by the bullion banks at an already massively deflated price in exchange for worthless paper currency!
At least it was a good story about saving his life once a long time ago!
If this keeps up, even when the Mandate of the US mints is to keep the supply up for any demand.....another failed US system.
When the house of cards fall, those holding Silver or Gold at least hold something tangable. Doesn't matter if the Internet fails .......Physical is King.
Premiums at what to watch......Paper can be erased or Comex orders must be taken in Fiat....
There is no truth from the (Government) Bankers or Elite.
Well, I guess my strategy of buying all that yard-sale sterling was pretty smart. I did real good this year too...about an ounce total of gold, but many POUNDS of silver. Sterling flatware, hollow-ware, coins, jewelry, etc. For next to nothing...I think I paid maybe 50 dollars total for all that silver, AND the gold too.
They can drive silver down to 3 bucks an ounce and I'll STILL come out ahead...ha! ha! ha!
You probably spent more on gas than you made on silver. 99% of yard sales are junk pnly.
How wrong you are, mjk. But I'll not try too hard to disabuse you of your notion. The more folks think like this, the better for me...:-)
So you're the guy who came to our garage sale and asked my youngish looking teenagres if we have any old silver that we dont use any mre and to come in the house and get it. Come and git some, I have lead for u.....
I promise that wasn't me, I always conduct myself honorably...besides, that sounds like a tough neighborhood. I never go to those, not worth the stress.
mark dice can't sell a 1 oz silver eagle for a dollar on the street. https://www.youtube.com/watch?v=z7usCHnZ-8c
The people whom frequent Oceanside Pier are pretty LIBERAL.
I have invited Mark Dice out to Lakeside to attempt that.
He knows better.
You ought to see what those Liberals sign on petitions out there. They have signed petitions which state that they have not read the petition.
Stupid fucking illiterate liberals.
That is the point which he is making.
I bought dinner for two with a drink for two silver bars. I had just taken delivery of a ten pack and had them with my in my case. I was showing them to my lady friend and the server insantly was interested. Sold in barter. I made money and the server I am sure will. In fact, I told him I would buy them back at any time. When I see him we still talk about that transaction. I however am not willing to barter anymore ha! He now buys his from Silver Towne like I do when the price is right.
and here he tries to sell a 1 oz gold coin for $50 dollarshttps://www.youtube.com/watch?v=ndshbH3qZ6Y&list=PLa8S4GilqogSviCmzIY1jz...
oh boy.
Would that be the same street where you can buy Rolexes for 20$?
Maybe it isn't that they are refusing to buy the silver coin for a dollar, maybe it's just that they doubt the damned thing is real. A lot of people these days are resistant to 'street bargains'