The Doc from SD Bullion and Silver Doctors and our friend Eric Dubin from News Doctors join us to discuss the latest developments in the global precious metals markets where we see the Perth Mint selling 3.5 million of its one ounce Silver Kangaroo coins in one day.
We also discuss the action in for PHYSICAL silver in India which has led Steve St. Angelo to conclude that demand for PHYSICAL silver worldwide will destroy the rigged paper markets once and for all.
And once again we hit on the 1980 inflation adjusted all time high for silver which now sits at $601 per ounce. With silver priced at $15 per ounce today, it equates to less than $2/ounce silver in 1980 dollars. Something is very wrong with this picture.
Today, we had the open interest in silver rise by only 145 contracts up to 158,051 despite the fact that silver was dramatically up in price to the tune of 76 cents with respect to Friday’s trading. The total OI for gold rose by 2490 contracts to 421,506 contracts, as gold was up $22.90 on Friday. Looks like the bankers were loathe to supply the paper in silver…
While the Mainstream Media and Financial Network hacks delude Americans into believing the Fed and U.S. Treasury are in control of the financial and economic system, investors continue on a record eight-year buying spree of silver. This multi-year buying trend of silver is unprecedented in history.
As precious metal analysts-investors bicker about whether THIS IS A SILVER SHORTAGE or not, the U.S. and world moves closer to the worst collapse in human history…
The Nonfarm Payrolls report really changed the character of the market. Silver is now outperforming gold, and the miners are doing well also. If the effects from the report continue, we could see some breakouts in PMs this week.
Brazil today had its currency plummet with the real crossing over the 4 handle to 4:1. Credit default swaps also climbed to the highest level in years. Brazil has its twin deficits, (fiscal and current account) climb to extremes as massive amounts of dollars leave the country to pay for goods.
Due to lower commodity sales, dollars are not entering the country as before and the country is spending whatever dollars come in faster than a speeding bullet…
Even in a frozen metals price market, it only takes one event to shake off the paper manipulation keeping prices below what supply and demand fundamentals of a free market would dictate.
And when that correction comes, it could happen quickly. In this interview with The Gold Report, The Morgan Report Publisher David Morgan shares his favorite ways to own leverage to metals prices upside while protecting against junior mining risk.
Ever wonder WHY Rick Rule and Eric Sprott own gold and silver??
While the current shortage in the retail silver market continues to stress investors as they have to wait 6 to 8 weeks for certain products, it seems to be carrying over into the 1,000 oz wholesale silver market.
One of the leading indicators of the wholesale silver market is the COMEX Registered Silver Inventories:
- 5 MILLION oz Retail Silver BACKLOG
- Morgan Breaks Down Physical Market: Shortage in the Wholesale Market, or Just in Retail?
- At What Point Does the Retail Market Put Stress on the 1000 oz Bar Market?
- Funds Attempting to Trigger $1070 Stops, Send Gold Towards 3 Figures
- Closer to the Edge of the Cliff- “At Some Point, Something’s Going to Give!”
- Shemitah Week is HERE: Is the BIG ONE on the doorstep? Eric and David weigh inThe SD Weekly Metals & Markets With The Doc, Eric Dubin, and David Morgan is below:
“We also note a rising sense of interest on the part of the Gold Bugs that there is a growing dichotomy between deliverable supplies of gold against the COMEX futures and the futures themselves. We do not often allow ourselves to “throw in” with the Bugs, but in this instance there may be something to the speculation.”