If physical silver’s Arch Nemesis is suddenly stockpiling silver bars at a pace that is only rivaled by the NATION of India, it’s only because the system itself has run its course, and there is nothing left to steal.
As I have long stated, I expect the big “escape” of silver’s price to only occur once their system is done.
So what does this bank know that has caused it to suddenly start stockpiling silver like there’s no tomorrow??
Expert PM analyst Steve St. Angelo (SRSRocco) joins the show this week discussing:
The SD Weekly Metals & Markets With The Doc, Eric Dubin, & SRSRocco is below:
I smell a trap in gold and silver.
I know that silver’s the best performing asset so far in 2015, but remember, that’s exactly how it started 2014 as well!
After that brief out-performance in 2014, the banking gators took the price down to the river-bottom, for a nice “death roll”.
*Editor’s Note: Bringing back to page 1 in lieu of today’s take-down
Sales of U.S. Mint Silver Eagles started off strong this year with 3.6 million sold in the first two reporting days of 2015!
The U.S. Mint starting selling Gold Eagles last week with 51,500 ounces reported on the first day of sales. The U.S. Mint released the official first day of Silver Eagle sales on January 12th.
As we can see from the chart below, the U.S. Mint sold 2,958,000 Silver Eagles on January 12th, then another 656,000 on Tuesday, January 13th. So far this year, the U.S. Mint sold 3,614,000 Silver Eagles compared to 56,500 oz of Gold Eagles:
When it comes to global silver demand growth over the past decade, the coin and bar investment category is the big winner. Unfortunately, the media tends to focus on growth of industrial silver consumption, while investment demand continues to take a back seat.
2014 global silver coin and bar demand may actually be closer to 230-240 Moz, than the 192 Moz figure GFMS forecast in the preliminary report.
Regardless, the huge increase in silver coin and bar investment demand over the past decade took place by less than 5% of the population… probably more like 2%.
What would happen to global silver coin and bar investment demand if only say 10-15% of the population became interested??
A couple of weeks ago, a long time subscriber correctly pointed out that I seemed to be speculating more than usual in my conclusion that JPMorgan was the big buyer of Silver Eagles and had accumulated as many as 300 million oz of silver, including Eagles and bullion. The subscriber noted that I usually relied on hard core facts that could be documented and not on speculation.
As it turns out, I believe there are sufficient number of hard facts behind my speculation, but I had failed to point them out.
So let me present the facts, as I see them, that point to JPMorgan having amassed the largest physical silver position in history.
Amazingly, retail investors purchased 84 Silver Eagles in 2014 for every ounce of Gold Eagles.
It will be interesting to see how 2015 unfolds.
With all the geopolitical, financial and economic uncertainty… next year just may be GANG BUSTERS for the U.S. Mint.
The Doc and Eric Dubin from SilverDoctors & SD Bullion joined the SGTReport this weekend to talk about all things silver.
We discuss the new record in silver eagle sales and the fact that in ancient Rome, payment for a hard day’s labor was 1/10th of once ounce of physical silver.
Today, due to the massive manipulation, a person earning $50,000/year is compensated with the equivalent of 10-11 ounces of physical silver per day.
More than 100 times the historic norm — and it’s only possible because silver is the most manipulated, most undervalued tangible asset on earth.
The Doc points out that with the current silver gold ratio over 70 to 1, while the earth’s mining output in 2013 was a mere 8.3 to 1, a move to fundamental valuations could see silver place a 10 bagger vs gold!
The Doc & Eric Dubin’s full interview with the SGTReport is below:
Another Conspiracy Theory Becomes Conspiracy Fact.
Well, well! Once again, all the “tin-foil” hat-wearing folks are looking like the smartest guys in the room, as an intriguing secret this week is revealed about a certain precious metal!
This is the biggest news of the week, yet nearly no one has mentioned it!
Now that we know this secret, it behooves us to use this knowledge to ask some very tough questions of the mainstream gatekeepers, like the World Gold Council, or the Silver Institute.
Investors should be furious, and hopefully, lawsuits will be forthcoming, now that this information is officially acknowledged!
Comparing Apples to Ounces:
In this week’s Clarion Call, we take a look at the market cap of Apple Computer, then compare it to the nominal GDP’s of several nations, and are left with a dizzying perspective.
Lastly, for kicks, we take the monstrous number of this one company,and place it beside the tea-cup poodle known as the “physical silver market”.
After all, there’s nothing like looking through the big end of a telescope, to bring these disparities into razor-sharp focus.
The U.S. Mint had to suspend sales on November 5th due to its inventory being totally wiped out.
The Royal Canadian Mint also put the sales of its Silver Maples on limited basis due to high demand as well.
If the Royal Canadian & U.S. Mint have difficulty now trying to meet demand for the 2-5% of public demand… what happens when the GREAT RUSH INTO GOLD & SILVER BEGINS??
The SHFE has experienced a 95% reduction of its silver inventory since its peak of 1,143 mt March 2013… RIGHT BEFORE THE HUGE TAKE-DOWN IN THE PRICE OF SILVER…
There was a huge development reported in the silver market last week as the GFMS is reporting SIGNIFICANT DRAWDOWNS of UK silver inventories:
With imports in the first ten months totalling a massive 169 Moz many vaults in the UK, traditionally the largest supplier to India, have seen significant drawdowns.
A drawdown of U.K. silver inventories may mean a REAL ACTUAL TIGHTNESS of wholesale silver (not retail) in the future.