Silver prices ended in negative territory for a second month in a row, driven for deeper losses on Wednesday. The downward pressure, however, did not dent demand for bullion 2014 American Eagle silver coins as they once again marched to noteworthy levels. Silver for May delivery dropped to $19.174 an ounce, marking a daily loss […]
Donetsk Mine Rescue Equipment Company-Self-Rescuer Devices, Oxygen Respirators and Booster Compressors, and Chemical Gas Detectors
Donetsk Mine Rescue Equipment Company (DZGA) is one of the world leaders in producing means of individual respiratory protection, with more than 50 years of experience in the safety business.
The Mongolian Government is preparing to restore 106 mining licences that it cancelled last year, after it was discovered that the licences were issued illegally.
A popular annual collectors’ product from the United States Mint debuts with the upcoming 2014 Silver Proof Set. Priced at $53.95, the set launches at Noon (Eastern Time) on Tuesday, April 29, 2014. Found within the set are fourteen proof quality coins produced at the U.S. Mint facility in San Francisco. Seven are silver coins […]
By Jeff Nielson, Bullion Bulls Canada
In the first part of this commentary, readers were presented with the context which leads us to believe that there is (must be) a “secret stockpile” of silver, and that the holders of (the vast majority of) this stockpile are the ultra-powerful (industrial) Silver Users, allies of (if not tentacles of) the One Bank.
We know this because the crash in silver inventories between 1990 – 2005 meant we were on a collision-course with inventory default nearly a decade ago. Since that time; silver demand has intensified, while continued price-suppression has led to only anemic growth in mine-supply. These parameters for imminent inventory default have only been hidden by a massive (and clumsy) falsification of inventories.
We know the silver is still being consumed, in industry, in jewelry, and in record quantities of minted (legal tender) silver coins. We know that nearly a decade ago there was no longer enough silver remaining in inventories to satisfy that demand, while the supply-deficit in the silver market persists. Ipso facto, there must be “a secret stockpile” feeding silver into the bankers’ depleted warehouses – and delaying (not preventing) the inevitable default ahead of us.
Thus the purpose of making readers/investors aware of this secret stockpile is not to discourage or daunt them that this stockpile means that the One Bank’s manipulation games in the silver market can be perpetuated forever (or at least into the distant future). Rather, the purpose of this piece is to explain why we haven’t already seen “inventory default”, or simply the collapse of the silver market.
Obviously the two most-important variables here are the size of this stockpile, and the “burn rate” (the rate at which this stockpile is dissipating). With respect to the size of the stockpile; for convenience, let’s assume that this corresponds to Ted Butler’s estimated “global stockpile” (about 1 billion ounces).
Recall the definition of a stockpile: the amount of silver in existence which may come onto the market at some (undetermined) higher price level. With regard to any reserves of silver held by non-Western governments; with silver becoming a “rare earth” metal itself (to quote a quip from Butler), it’s safe to assume that any such stockpiles would not be coming onto the international market – at any price.
With respect to our own holdings of silver; we converted our wealth from paper to metal to escape the bankers’ fraudulent (and effectively worthless) paper currencies. It’s safe to say that for these “strong hands” still holding onto their silver that this silver will also not be coming onto the market – as long as it can only be converted back into this same, fraudulent paper.
This means that deeming all the world’s “stockpile” of silver to be held by the Silver Users is, at worst, only a small fiction. We have no way of precisely verifying this quantity, and we recognize that Mr. Butler’s estimate was (of necessity) a rough approximation. Thus we accept that there is some considerable (upward) latitude as to the size of this stockpile.
We can now safely assume (in hindsight) that there is no downward latitude of Butler’s estimate of a 1 billion ounce global stockpile, because if there was, it would have already been exhausted – and the global silver market would have already collapsed. This becomes apparent once we look at the real burn-rate of stockpiles.
With all 2014 Baseball Hall of Fame Commemorative Silver Coins sold out and no products debuting, buyers returned their attention to Silver Eagles, the latest United States Mint sales stats revealed. Both the proof and uncirculated 99.9% pure silver coins dominated in this precious metal category. The bullion version exploded as well. In its 13th […]
Sources familiar with the matter say CME Group plans to launch a physically deliverable gold futures contract in Asia.
Heavy equipment manufacturer Catepillar has announced a number of enhancements in its D9T dozer which are said to enhance performance, productivity, operator convenience and safety, and serviceability.
Goldman Sachs equities analysts seem to be at odds over gold and silver from their colleagues covering the commodities sector.
Roth Capital’s Joe Reagor argues for a higher gold price in 2015 and weighs in on gold shorts down to $1,200.