As the world continues down the road of self-destruction via its highly leveraged paper financial markets, there’s a much more fascinating story worth looking at.
Hidden from the majority of the public and misunderstood by the so-called professional metal analysts, is the Real Story Behind Silver.
The US Mint has updated its Silver Eagles sales stats this evening to indicate a massive 27.575 million ounces sold in July, and 52.62 million oz sold for the year!
While we suspect the Mint has made a typo, perhaps Bernanke and Dimon have thrown in the towel on a taper and have dumped their personal July compensation into phyzz?
The Mint’s massive silver sales update is below:
Last Tuesday March 26th, we reported that the US Mint had sold 3,356,500 Silver Eagles in March, nearly 1 million in the past 4 days, and were only 25,000 oz from surpassing the all-time March sales record set in 2010.
Well, The Mint would have smashed the all-time March sales record for Silver Eagles…had it not held back sales totals for a full week, and reported a whopping 812,000 oz sold on April 1st.
SD reader Battle Beagle has constructed a hypothetical silver price chart based on US Mint Silver Eagles sales to demonstrate what the price of silver might be trading at currently were it not for the massive cartel take-down of the metal.
The hypothetical silver price based on US Mint Silver Eagle sales statistics? $50-$55/oz!
After smashing the all-time monthly sales record in January by selling 7.5 million Silver Eagles (even with production halted for half the month), silver eagle sales have continued at a record setting clip. The Mint’s latest February sales statistics indicate the mint has already sold a record 3.37 million silver eagles in February, eclipsing February 2011’s previous record for the month of February of 3.24 million ounces sold.
In a little over a month of actual production, the US Mint has sold a mind-blowing 10,866,500 ASE’s, approximately 33% of entire sales for 2012!
Submitted by Michael Lombardi
Central banks around the globe are printing non-stop. You don’t have to look as far as Japan, South Korea, or Russia to find countries increasing their money supply; our very own Federal Reserve is spending $85.0 billion a month buying mortgage-backed securities and government bonds. That $85.0 billion is “created” each month.
We have already begun to see demand for silver increase significantly. I call it the “Silver Rush.”
Investors will continue to rush towards silver, because it is affordable for them; while central banks will buy more gold, as they can afford it. The rush to silver and gold is fueled by excessive money printing by the central banks, the global race to devalue currencies, and increased inflation.
Our friend Sean of SGTReport.com has released an interview with Jeff Nielson of Bullion Bulls Canada regarding the growing silver shortage, and the massive 7.4 MILLION ounces of silver eagles sold in January alone, a record. The US Mint can’t keep up with demand for PHYSICAL and neither can the Royal Canadian Mint which produces the .9999 Silver Maple Leaf. Whereas the outright fraudulent SLV etf seems to have no problem magically adding 572 TONS of physical metal to its supposed hoard, literally overnight. Like the US government’s GDP number fraud, it’s all an illusion – built on outrageous lies.
SGT’s full interview with Jeff Nielson on exploding silver demand and physical shortages is below:
Germany recently announced it was moving some of its gold back to the homeland. Investment manager Tom Cloud says, “People are starting to pull away and take care of themselves. . . . You don’t want to be the last guy holding the bag.” In his 35 years of investing, Cloud says, “I am now seeing countries buying gold that are talking to me. . . We have banks buying the heaviest they have ever bought.”
When it comes to silver, Cloud contends, “There is a real shortage out there. . . . You’ve got industrial buyers competing with the investor.” Cloud predicts, “There will be a time we’ll see a parabolic rise in the price of gold and silver, but we’re not there yet.” Join Greg Hunter as he goes One-on-One with Tom Cloud of CloudHardAssets.com.
On Monday, we reported that the US Mint sold an all-time single day record 3.937 million 1 0z Silver Eagles.
It appears that the public continued to take advantage of $30 silver Tuesday, as the Mint has reported the sale of another 300,000 Silver Eagles overnight, bringing the 2 day January sales total to 4.287 million ounces!
The Doc sat down with Harvey Organ Wednesday for the first of several interviews regarding the recent massive cartel intervention in the gold and silver markets post the QE4 announcement, the fiscal cliff, the CFTC’s silver probe, and the unprecedented 20 million oz of silver still standing for December delivery.
Harvey stated that the end game is being played out, and that an Asian group has decided to take on the cartel and drain the physical silver from the COMEX. He states that the bullion banking cartel’s suppression of the gold and silver markets is the ultimate treason against Americans, as 350 years of US wealth is being drained East due to the price suppression of gold and silver.
In the midst of a 2 month price consolidation for both gold and silver, US Mint gold and silver eagle sales exploded in November, coming in a 3,159,500 oz of ASE’s, the 3rd highest monthly total for 2012, and 136,500 oz of AGE’s, by far the highest monthly gold sales for the US Mint for 2012.
While silver eagle sales were strong, the story is in gold eagle sales, which roared back to life in the wake of Obama’s re-election. The silver/gold sales ratio narrowed to 23/1, after reaching such extremes as 74/1 as recently as August.
The 136,500 oz gold eagle sales total was nearly triple the October sales total of 59,000, and was up an astonishing nearly 4 fold year over year from Nov 2011, which saw 41,000 oz sold. November silver eagle sales were nearly as strong, up 2.5 fold year over year from 1,384,000 sold in November 2011.