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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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he told the prospects they could take it into the coin shop to see if it was real
hes in front of the coin shop and tells them they could take in..
9 out of 10 New Yorkers would assume the coin dealer was his brother-in-law or something...fuggedaboutit!
No. It is Oceanside Pier. That is a Liberal, Surfer, Stoner, and Gang Ridden enclave.
The Silver Hoax is all about maintaining confidence. Any 'official' press release from the US Mint might reach the MSM and might invite a followup story. This might trigger a 15 second mention on the evening TV news. Or a couple of inches in section A of USA Today. The MSM no longer does any real investigative reporting, so the lack of anything 'official' means it goes uncovered.
Imagine if Joe SixPack hears of a silver shortage (which must be explained by the Mint or MSM) and suddenly decides to join the rush in buying demand.
The whole purpose of dumping the price is go let those 'doing God's work' to cover their silver shorts at maximum profit, and to let the same gang buy as much cheap physical silver as they can find.
MSM will do a follow up story? C'mon
Those who have a favorite supplier online can confirm this by simply browsing their site. When I browse the junk silver section of the Apmex site, there is very little available comparred to recent years, and of course the premiums are much higher. Must have been LOTS of boating accidents.
Silver bells, silver bells- it's shortage time in the city.
Ding a ling, hear them ring, soon it will be Harvey's day.
hahaha
now, zat is a really really naise christmasy song.
City sidewalks busy sidewalks
Filled with many sheeple
Almost all are in deep stupor
I have a problem with the Title. If the .gov doesn't want us to know about it, why is there a report from
the US Mint?
The Mint has not reported the suspension of sales on their website or to the General Public.
They reported it to the Large Suppliers only.
Futhermore the prices on the US Mint website offer it for over 2.5 times Spot to dissuade orders.
Because the ZH sheeple would not read the article if it wasn't a scandal.
Being a ZH Sheeple has nothing to do with reading stupid shit. I read your comment didn't I?
The article is incorrect. There is no shortage of silver right now.
Calling ZHers "sheeple" is pretty rich though. LOL.
"This announcement hasn’t been made public." WTF!? They havent exactly kept it a secret either. The dealers do not appear to be under any obligation to keep this a secret. Every year since 2008 the mint runs out of eagles at some point. The information is immediately made public, just like it was this year, and then they make more eagles. Dealers announced this publicly wihtin moments of notice from the mint!
You are correct that there is a run on physical silver by investors right now. But it ain't no secret. :)
Right with ya. Didn't the mint tell everyone that they sold out? Lol. And I don't think there necessarily a run. There us still plenty on other silver available. Right?
sounds like a Cramer ....pump & dump scheme ....
It is a secret if you know that not one in 100,000 Americans even know what a Silver Eagle is, much less own one. There are over 300 cases of possible ebola (thanks, ZH and Drudge) under watch in NYC, but that hasn't been made public either by the main stream lapdog media, so that's a big secret to most. Hell, they think ebola is all over.
What's made public is frivolous crap like who won the World Series, or DWTS, not important stuff like the government is a lying sack of shit.. Hell, 90% of this nation can't tell you in which century the American Civil War was fought, or how many quarts to a gallon. They only know how many ounces are in a Big Gulp, so don't expect them to keep up with gold and silver. Consider yourself lucky that you are informed. The rest will become informed when they rudely discover it is in their interest.
Best interests.
Fixed it for you. :)
Perform an experiment. In a public area such as a park, mall, etc - ask a couple dozen Americans what comes to mind when they hear the words "silver eagle" ?
Then ask them about the latest celebrity gossip ( I can't provide a name because I don't waste time on that ).
Ask this on a college campus and I wouldn't be surprised if the results were worse.
look up mark dice on youtube, hes done that. pretty entertaining. Can't sell an ounce of gold for 50$, there is also one where he gets a bunch of people to sign a petition to repeal the bill of rights, and signing one to grant imunity from any war crimes he may have admitted
I'll be at Harvard on Wednesday. If I have time I'll try that.
"I'll be at Harvard on Wednesday."
Name dropper...
You reminded me of this.
If paper based precious metals contracts lose credibility, it seems reasonable that the value of those contracts would decline even as demand for the actual physical metal increases.
When one of the pillars begin to fall, they will all go like dominos.
The scary part will be on just what distractions / events will take place to cover up the collapse.
Have your Pop Corn in HAND!
Sooner or later those paper contracts will be called for physical and all hell will break loose. I've got a special bottle of tequila saved back to go with the popcorn.... :-)
How did that work out for your grandpa in 1933?
It would not have. Silver plummeted to $0.25/ounce troy. In fact the Government had to step in and start buying up the Silver. When one could trade the 0.20 Ounces in a Silver Quarter for ONE TROY OUNCE of fine Silver then there was a marked imbalance.
So on that point I will agree. Deflations are bad for Silver but great for Gold.
In fact if you had your Gold offshored, as it was still legal to own offshore, you'd have had a 75% appreciation of your wealth.
That is a reason for both diversification and offshoring some of your PMs.
But IT IS DIFFERENT THIS TIME.
Back then, in 1933, the USA was a CREDITOR NATION and not anywhere near as massively in debt. Furthermore with the domestic seizure of bullion the Government could order to print and the Dollar still had Gold Backing. Those rare Dollars were extremely valuable.
Today on the other hand the USA is DEEPLY INDEBTED. There are $12 Trillion IDLE and PRINTED Dollars sitting in Foreign Bank Vaults. (That is not "electronic money".) They just cannot disappear. That currency is PLENTIFUL.
When they come back to our shores and start purchasing anything which is not nailed down it will ignite a Hyperinflationary Inferno the likes of which nobody has ever experienced.
Of course that is when you dump your Silver and realize the gains.
Deflations always precede Hyperinflations which are then followed by deflations.
Silver is a speculative bet. Gold is the core wealth.
"...Deflations always precede Hyperinflations which are then followed by deflations..."
I'm just not seein' that here, Tom. Looks like inflation spikes preceed deflation
I will be swirling a silver eagle in my hand watching it go down.
On Nov. 8, former Assistant Secretary to the Treasury Dr. Paul Craig Roberts spoke with precious metals news source King World News to discuss recent events occurring in the gold and silver markets and in particular, with the Federal Reserve and U.S. dollar. During his 19 minute interview Dr. Roberts unequivocally stated that the Federal Reserve is using the bullion banks to short the futures market on the Comex with naked paper contracts as a hedge against the dollar collapsing because of the five year long easing programs done by the U.S. central bank.
Dr. Roberts also stated that the dollar should have long lost its value under the weight of $4 trillion of new money printed out of thin air by the Fed, and that only through their supplying foreign banks like the ECB and Bank of Japan with extra liquidity has the dollar sustained any semblance of value when measured against gold, silver, and the world's mix of fiat currencies.
http://www.examiner.com/article/fed-using-banks-to-short-gold-and-silver...
Places, places everyone. The show is about to begin...
Oh, by the way, the theme of today's showing is in tribute to the paper gold and paper silver markets... "Gone with the Wind".
The lights dim as the orchestra begins to play...
I have been waiting since 1993.
Yeah Oregonian, we've been waiting for this play to start for at least three long years...
The equation that explains how prices are record low in record demand is simple:
1% Physical + 99% Naked shorted Paper = Gold and Silver Futures Market.
Slamming that price down a little does not help. You have to go "all in" Jack Lew and crush that price all of the way.
Please Jack. I want to be buying Silver at $3.00 again
If you do not succeed the first time it means that you have not done it enough, Jack Lew.
It is like QE. It just was not enough. We need MOAR...
Please Jack Lew. We need MOAR.
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They do not understand the mindset of the Gold and Silver Bug. They think that we want their currency because they want currency. But we do not want their currency because we have no faith, no trust, and no confidence in their currency. In fact every Price Slamdown has only succeeded in eroding any remaining trust.
There is no reason to participate in the economy of those whom are set out to destroy you. It would be like going to Las Vegas and expecting to win (It can be done but it is unlikely for most.)
Slamdowns have just been the reason to buy more. But they think that we are scared of losing something (US Dollars) which have no value in the first place.