eagle sales

On Halloween, Oct. 31st when Zombies knocked the price of silver down 4%, the U.S Mint sold 1,425,000 Silver Eagles that day.   After the weekend, Silver Eagle sales on Monday, Nov 3rd were a hefty 625,000.   As the price of silver trended lower on Tuesday, the U.S. Mint sold another 430,000 on Nov. 4th.
And then on Nov 5th, with the paper price of silver down 5%, demand for Silver Eagles increased to a level that totally wiped out all remaining Silver Eagle inventories at the U.S. Mint

2012 Amercian Silver Eagle

Of Mints and of Mines
This week’s Clarion Call takes a closer look under the hood at the U.S. Mint, at both the number of coins being released soon, and what it means for silver retail supply going forward.  
We also scour over the charred wasteland that is the silver mining industry.
Plus a surprising figure that silver stackers must be aware of
It’s all here, in the “Clarion Call”!

Mass delusion is an incredibly powerful force.
In the West today, we see mass delusions everywhere.
People seem to believe their governments are almighty beings capable of performing magic—water into wine, debt into wealth.
Here are some of the biggest myths we see in the system today:
1. The dollar will continue to be the dominant currency…

moon

In this interview with Finance and Liberty, Golden Jackass editor Jim Willie discusses:

  • U.S. Mint SOLD OUT of Silver Eagles- is this the first sign of a massive physical shortage of precious metals?
  • GLD and ScotiaMocatta being drained of physical gold
  • The U.S. government has ALREADY DEFAULTED on its debt; China is taking control
  • How returning to a gold standard might work
  • Willie’s outlook on Gold- why a MASSIVE MOVE to $18,000/oz is coming

Jim Willie’s MUST LISTEN interview with Elijah Johnson is below: 

raid

From 10:30 a.m. (EST) to 10:45 this morning, 2.8 million ozs of gold were dumped onto the Comex.  
This forced a rapid $20 price plunge.  There were no apparent news or event triggers.
Zerohedge attributes the hit to the possibility that the Big Banks got ahold of the FOMC minutes early or the latest results from the Swiss gold referendum were leaked.  

I say bullsh*t to both…

Massive shorts

It looks like we have a few nervous shorts in silver racing against the clock to cover some of their shortfall!!
The total silver OI  remains extremely high with today’s reading  at 173,075 contracts. The big December silver OI contract marginally lowered to 71,638 contracts. The high December OI is huge news as those longs remain firmly planted ready to take on the bankers.
The potential for a MASSIVE short-squeeze is brewing.

Caption Contest 1

I am convinced that this persistent correlation between the Yen and gold might hold the key to finally stressing the paper—physical connection. GOFO rates in London fell even further in London today, making new 15-year lows in the process. This is always a sign of physical delivery stress and, to me, indicates that The Bullion Banks are having extreme difficulty sourcing metal to deliver at these noneconomically-derived paper prices.

images

John Manfreda of Wall Street for Main Street Interviewed Bo Polny of gold2020forecast.com.
Polny discusses the current state of the gold market, what the future holds for Gold, the Gold Silver ratio, the equity market, and predicts that a massive rally awaits in silver, no matter what The Fed says
Bo Polny’s full interview with Wall Street for Main Street is below: 

simon black

At USD $1160, a lot of gold owners are looking at the paper price right now and panicking.
The conventional wisdom is that, because it takes fewer pieces of paper to buy an ounce, gold is a bad ‘investment’.
This isn’t the right idea.   It shouldn’t be viewed as an investment at all.
Gold isn’t something that you buy with paper currency hoping to sell it later on down the road for even more paper currency.
Rather, the entire point of gold is to trade paper currency for something that can hold its value over the long-term, yet is still liquid, divisible, and universally recognizable.
There are almost zero assets that fit the bill. Gold is one of the few.

loot on

Far from chastening the world’s biggest currency trading firms, the multi-billion dollar fines levied by regulators on Wednesday are more likely to draw a line under the affair and gradually allow a return to business as usual.
A year into a wide-ranging industry probe into charges that banks routinely fleeced clients over currencies, industry observers and politicians were frustrated by a deal they said showed the affair will end just with fines rather than any reform of what they say is the Wild West of financial markets.