silver mineDue to the Fed’s QE policy of propping up the stock and bond markets while monkey-hammering the precious metals, the top primary miners gave away their silver at a loss in 2013.  While some of the top 12 primary miners stated adjusted income gains for the year, all the companies suffered net income losses — a staggering $1.7 billion loss for the group.
Here is the FULL YEAR financial results for the top primary silver miners in 2013:

goldIn the daily build up of the expectations of the baffled and bemused precious metals investor -now constantly whiplashed tween hope and despair -…and wherein the final breakout is always just around the corner – according  to this GOFO reading, or that BACKWARDATION statistic… – resulting in the Ecstasy of Gold. 

U.S. Gold Exports Jan & Feb 2014As Russia, China and the other BRIC countries work towards a system that doesn’t include the TURD called the U.S. Dollar, Americans have less and less time to prepare for the GREATEST TRANSFER OF WEALTH…. in history.
Not only did the U.S. export 128 metric tons of gold in the first two months of the year, its supply deficit continues to increase. 
While gold exports to Hong Kong fell in February, Switzerland imported another 28 metric tons of gold during the month, more than twice the 12 metric tons it imported in January.
If we look at the chart below, we can see where the United States exported the majority of its gold.

Caption Contest 1A recent Chairman of that private corporation in control of the finances – perhaps even, the destiny – of the USA for the past 100 years, famously referred to the yellow metal as “a barbarous relic”.   Although this Ph’d prophet of policy-managed markets has hardly been a fount of wisdom in the course of his career… in this case he stumbled upon a truth.
Yes. Bernake got it right!  Gold has all the attributes of  a primitive thing – and as such belongs in essence to a different cycle in humankinds’ journey. In fact, it’s the very primitive nature of gold [& silver] which renders it a potentially deadly kryptonite to the modern financialized world.

Top 5 Official Silver Coin Sales 2013In 2013, the top 5 official silver coin sales topped 98 million oz.
The U.S. mint came in first place by selling 42.6 million Silver Eagles, while Canadian Maples came in second at 28.2 million oz followed by 14.5 million Philharmonics, 8 million (est) Silver Pandas and 5.3 million in Australian Kookaburra’s, Koala’s and Lunar Silver Snake sales.
Total of the top 5 official silver coin sales were 98.7 million.  Again, these figures represent their top-selling official coins.  This does not include other silver bullion coin and numismatic sales.
Thus, the market purchased 27 times more official silver coins than official gold coins in 2013.
With a high ratio of 27 to 1 set last year, 2014 may break that record in flying colors.  So far this year, the U.S. Mint has sold 19.8 million Silver Eagles compared to 193,000 oz of Gold eagles.  This is a 102 to 1 ratio.

The U.S. Mint just updated their Silver Eagle sales figures for May, and it was a whopper.  Since the beginning of last week, the U.S. Mint sold 1.939,500 million Silver Eagles.  This is a big number.  Total for the month of May is already at 3,262,000 oz.
It took one week for the U.S. Mint to sell more Silver Eagles (1,939,500 oz) than all the Gold Eagles sold in 2012, 2013 and 2014 (1,808,000 oz).
Just think about that for a minute.  The market purchased more Silver Eagles in one week than all the Gold Eagles since January 2012.

Canadian Silver Production Jan-Feb NEWCanadian silver production declined significantly in the first two months of 2014 compared to last year.  The huge drop off in production was due to the closure of two base metal mines and one primary silver mine in 2013.
Canada has lost two-thirds of its silver production in just twelve years.
While Canada isn’t a large global silver producer, it’s still a large percentage decline nonetheless.
As the Royal Canadian Mint continues to ramp up sales of its Silver Maples, the country will have to import more silver to make up for the shortfall in domestic production.

Official Coin Sales vs Total Silver Mine SupplyThere is one factor in the silver market that the Fiat Monetary Authorities and Banking Institutions are deeply concerned about. It has to do with controlling the public’s understanding of what is “Real Value” versus “Perceived Value.”
The reason the fiat monetary regime is worried about silver investment demand is that it could throw a monkey-wrench into their plan of controlling the price of silver.  If the price of silver gets out of hand, so does the ability to keep confidence in the U.S. Dollar and all the worthless paper assets that are tied to it — such as the U.S. Retirement Market.
While the Fed and its cohorts in the banking industry continue to print money as well as offer plenty of digital liquidity to give the illusion of solvency in the financial system, cracks are beginning to appear as more investors become reacquainted to the 2,000+ year history of silver money.

Canadian Silver Maple Leaf Sales 2007-2013Not only did Canadian Maple Leaf sales shatter all records in 2013, their percentage gain was twice as much compared to Silver Eagles.  The Royal Canadian Mint just released their 2013 Annual Report and sales of their Silver Maples were the highest on record.
There’s a new Silver Sheriff in town, and it happens to be located north of the U.S. border. 

jeffrey christianThere’s a lot of shortsighted and incorrect silver analysis out there, so its imperative that you consider the information in this article. CPM Group just announced the release of their 2014 Silver Yearbook.  In their statement they implied that “Net Global Silver Investment” declined in 2013, while fabrication demand increased.
This sounds like a bearish statement for silver investors, but the reality is… silver investment demand actually INCREASED IN 2013, it did not decline.
CPM Group states that “Official Coin” sales were a record 136 million ounces in 2013.   How in the HELL, did investment demand FALL in 2013, if official coin sales increased 30-40 million oz??
It’s easy… you label the supposed surplus as SILVER INVESTMENT DEMAND… and poof.. you can show a declineLet me explain, I am gonna let you all in on a dirty little secret.

Massive Bucket ExcavatorIn a stunning admission, the German Government recently announced that its transition to Renewable Energy was, “On the Verge of Failure.”  This blunt statement was released by Germany’s Economic Minister and Vice Chancellor to Angela Merkel, Sigmar Gabriel at an event at SMA Solar… Germany’s leading manufacturer of Solar technology.
Germany decided to shut down eight of its Nuclear Power Plants after the disaster at Fukushima.  Unfortunately, renewable energy isn’t filling the void.  To make up the difference… in come the COAL MONSTERS.
This announcement is a DEATH-BLOW to the advocates of renewable energy such as Wind & Solar.

Shangahai Futures Exchange Silver Inventories April 18 2014Over the past two months, gold inventories at the Comex have risen slowly, while silver warehouse stocks continue to decline.  A total of 17.2 million ounces of silver were removed from the Shanghai (10.2 million oz) and Comex (7 million oz) exchanges since the end of February.
For some reason, a great deal more silver is being withdrawn from the Shanghai Futures Exchange.  In just one year, inventories at the exchange declined from 1,123 mt to current level of 258 mt.

U.S. Gold Bullion Exports to Hong KongThe figures are out and it looks like the United States exported a record amount of gold to Hong Kong in January- a stunning 57 metric tons!  Not only is this 3 times more gold exported than January 2013 (17 mt), it was 84% more gold than the record month set in August (31 mt).  As we can see, gold bullion is fleeing the U.S. and heading to the East.  Again… that 57 mt figure is just gold bullion.
As the West continues to play games with Monopoly money and Derivatives manufacturing, the East accumulates as much gold as it possibly can.  While Main Stream Media and its Banker cohorts release bearish $1,050 price targets for gold, the Asians and Indians smile as they build the largest amount of gold stocks in the world.

Shangahai Futures Exchange Silver Inventories April 18 2014In the past week, the Shanghai Futures Exchange suffered another large withdrawal of silver from its warehouse stocks. 
The Shanghai Futures Exchange has had another 41 metric tons (1.3 million oz) of silver withdrawn since April 10th. 
Silver inventories have declined to their lowest levels since the exchange started building its silver stocks in August, 2012.

silver miningThere is an insidious Dark Side to the silver mining industry that goes unnoticed by the majority of investors and analysts.  Actually, I haven’t come across one miniyng analyst who puts out comprehensive data on this very subject for the silver mining industry.
According to my figures for 2013, the top primary silver miners suffered the lowest average silver yield ever.  That’s correct… another year of declining ore grades and yields.
For those analysts who believe the price of silver is heading lower in the future… the falling yields and increased costs will prove otherwise.