Last month we posted a report (which subsequently went viral) from an Apple contractor who claimed that Apple has delayed production on the new 27″ iMacs due to an industrial silver shortage in China.
New signs of an extremely tight wholesale physical silver market have now emerged, as a first-hand account has revealed that one of the largest and most famous German automakers is hoarding massive amounts of physical silver inside one of the most secure vaults in Zurich, Switzerland.
Financial writer Byron King, who viewed the massive German automaker’s silver hoard in Zurich stated:
Why does the German company store dozens of pallets of silver in a secure vault deep in the mountains of Switzerland? It’s simple, really. So that the metal is there when the car maker needs it. As one purchasing manager explained later in my travels, “For some metals, like silver, there’s no such thing as ‘just in time’ delivery anymore.”
In other words, this German company buys silver when it’s available. In fact, the company buys as much as it can acquire. Then it stores and stockpiles the material in a vault in the mountains of Switzerland, right next to the pope’s gold.
Ted Butler’s long anticipated panic buying & stockpiling of physical silver by industrial users appears to be gaining momentum.