I bought some silver eagles for $20/oz yesterday when the price quoted in the mainstream was well under $15/oz. Why? Because it's the best price I found at my local coin shops for the real things. Yes, I understand the premium I paid is outrageous and will likely get smaller in % terms as the price rises but I wasn't willing to WAIT.
I've read all of the articles claiming that this is only a "Retail Silver Shortage" and it is only a fabrication issue but I don't buy it. Not one bit. This is a shortage due to the manipulation of the price of silver to a point that is so low that anyone with half a brain would load up their truck IF the metal was available.
Have you noticed that the "retail shortage" is PERSISTING and only GETTING WORSE?
It's been over a month now and in the past the wholesale fabricators and mints would have sped up production and been supplying massive amounts of retail product to cover back orders....they are not. The lead times for delivery are just getting longer and longer.
This is the End Game my friends and very soon you will be lucky to find any silver at all for sale...at any price!
My Friends at GATA know where this phony pricing comes from and can see the writing on the wall for the COMEX (aka CRIMEX) as well as all other electronic markets...
Are Monetary Metals Futures Markets Legitimate Anymore? Are Any Markets?
We are very much on track for the long anticipated Global Monetary Meltdown and with it will come the closing of the electronic markets around the world. It's the Bad Guys' only way out of this mess.
May the Road you choose be the Right Road.
Bix Weir
5 Things You Will See Happen Over The Rest of the Year
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