One or more major players “jumped the queue” and took delivery of about 6.5 million more ounces of silver out of COMEX warehouses than anticipated at the beginning of the month.
Now, since this article was written (Aug 3rd), there were three more large net withdrawals:
In a stunning development, the world’s largest silver producing countries reported big declines in recent months. This was surprising because the top two producers, Mexico and Peru, stated positive growth in the first two months of the year.
However, silver production from these two countries reversed this trend by declining in April and May.
The once great U.S. Empire is now in big trouble. The U.S. Empire is on its last legs.
At some point, we will not be able to trade worthless Fiat Dollars for our oil imports. Falling domestic oil production, on top of falling oil imports will wreak havoc on the U.S. Economy and most paper and physical assets. Thus, the collapse of the U.S. Retirement Market will cause an EPIC SURGE in the price of gold.
This is why it is best to see the WRITING ON THE WALL and invest in gold and silver before its impossible to acquire the metal.
We hosted Steve St. Angelo for a fascinating, if not startling, look at the big developments that look to have the west – and possibly the entire world – headed for an unexpected collapse.
When the system finally starts to unravel, the speed at which it will unravel and how it takes down the fiscal economy will be breathtaking.
FOFOA and its hardcore followers look at the world through shiny gold-colored glasses. The folks at FOFOA believe the future value of gold is heading to the moon, while silver gets flushed down the toilet.
Here is one of their excerpts:
When the coming paper illusion price of gold is destroyed, sending its trading price way up and way down, several times, before shutdown… the thinner paper markets of lesser metals will be absolutely devastated. Yes we will see $50.00 silver in our time… $50.00 for a hundred ounce bar that is! No less a relative price decline for the other metals is in store. Even if these actual dollar numbers prove incorrect… relative inflation adjusted prices will show the exact same ratios to gold. The gain will truly be in gold!
In the MUST READ article below, SRSRocco delivers FREEGOLD an intellectual smackdown and makes the case for MUCH HIGHER silver prices:
With the rapid fall in the price of oil, the primary silver miners production costs declined in the first quarter of 2015.
How much? Well, actually a bit more than I forecast:
As it pertains to silver, something big is taking place in India. While investors were amazed by the massive volume of Indian silver imports last year, 2015 may turn out to be a real whopper. Indians are buying so much silver, they are on track to surpass 2014’s record by a wide margin.
So, how much silver is India importing?
The amount of fraud taking place in the major banks throughout the world is staggering to say the least. Ironically, the only market that isn’t manipulated, is the silver market… so they say.
When we add up the total fines and settlements paid by the Banking Industry since 2009… it’s a serious amount of fiat currency.
How Much? Amazingly, the major banks paid more in fines than the cumulative value of all silver mined since 2009.
Just think about that for a minute.
The amount of fraud and criminal activity at these major banks forced them to pay fines greater than the value of world silver mine supply.