Tag Archive: Precious Metals


The US Government Doesn’t Want You To Know There’s A Run On Silver Bullion

 

 

Gold Coin Demand US Mint

 

 

 

” It looks like the entire world is spitting out gold and silver as an investment or hedge, as the prices of both precious metals were tumbling in the past few weeks. Well, at least the demand for gold and silver ‘paper’ isn’t anymore what it used to be, but the demand for physical silver is really booming.

  Reports have reached us from Germany that the demand for silver is really surging, and this is an interesting sentiment meter because Germany usually acts as one of the main distribution centers for the European Union. Several large bullion dealers have seen the demand for silver increase, and in just the next few days after last week’s crash, almost all dealers sold as many silver coins in just three days as they usually do in an entire month.

  Now you can try to dismiss this easily by saying that the Germans and the rest of the European Union are simply preparing for an upcoming implosion of the Eurozone, but that couldn’t be further from the truth. The US Mint recently had to announce that there were no more silver Eagles in inventory, and that it would have to suspend deliveries for new orders. This announcement hasn’t been made public (why not, US Mint? Are you trying to keep the people dumb?) but was only sent to larger bullion dealers in the USA. “

 

Zero Hedge has more

 

 

 

 

 

 

 

 

 

Indian Cleaners Find 24 Gold Bars In Aircraft Toilet After Flight From Bangkok

 

 

” Aircraft cleaners in Eastern India discovered a stash of gold bars in the bathroom of a commercial aircraft worth more than $1.1 million on Tuesday.

The 24 gold bars were discovered inside two bags aboard the Jet Airways flight as it was being cleaned in Kolkata airport, said officials.

The plane that carried the 2.2lb of gold had arrived from Bangkok earlier in the evening before making stops in India.

Gold smuggling in India is on the rise after the country raised its import duty from 10 percent to 15 percent, the third time it was raised this year as the country tries to  reduce demand for precious metal. Indians traditionally hoard gold in the belief that it will bring them financial security.”

 

 

That’s a hell of a tip .

 

 

 

 

 

 

 

 

The Assault On Gold: The Fed’s Attempt To “Scare People Away” From Gold And Silver

 

 

 

” For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices. 

The Federal Reserve is creating $1 trillion new dollars per year, but the world is moving away from the use of the dollar for international payments and, thus, as reserve currency. The result is an increase in supply and a decrease in demand. This means a falling exchange value of the dollar, domestic inflation from rising import prices, and a rising interest rate and collapsing bond, stock and real estate markets.

The Federal Reserve’s orchestration against bullion cannot ultimately succeed. It is designed to gain time for the Federal Reserve to be able to continue financing the federal budget deficit by printing money and also to keep interest rates low and debt prices high in order to support the banks’ balance sheets.

When the Federal Reserve can no longer print due to dollar decline which printing would make worse, US bank deposits and pensions could be grabbed in order to finance the federal budget deficit for couple of more years.  Anything to stave off the final catastrophe.

The manipulation of the bullion market is illegal, but as government is doing it the law will not be enforced.

By its obvious and concerted attack on gold and silver, the US government could not give any better warning that trouble is approaching. The values of the dollar and of  financial assets denominated in dollars are in doubt.

Those who believe in government and those who believe in deregulation will be proved equally wrong. The United States of America is past its zenith.  As I predicted early in the 21st century, in 20 years the US will be a third world country. We are halfway there.”

 

 

 

 

 

 

Who Has the Right To Mine An Asteroid?

 

 

 

 

 

 

 

 

 

 

 

 

 

” As PopMech has relentlessly covered, the race is on to tap the mineral wealth tucked away in the asteroids. But are these big space rocks free for the taking, or will asteroid miners find themselves bogged down in outer space red tape? Instapundit blogger and resident contrarian Glenn Harlan Reynolds investigates.

Suddenly, the idea of asteroid mining is everywhere. As a recent feature here in Popular Mechanics noted, asteroid mining has gone from a “someday” idea to a business plan for more than one company. As a professor who’s been writing, teaching, and practicing space law since the 1980s, I say, why not? Asteroids are valuable, they’re out there, and they are free for the taking.

Or are they?

Asteroids are certainly available, and they’re valuable. More than 750,000 asteroids measure at least 1 kilometer across, and millions of smaller objects are scattered throughout the solar system, mostly in the asteroid belt between Mars and Jupiter. Even a comparatively small asteroid is potentially quite valuable, both on Earth and in space.

A 79-foot-wide M-type (metallic) asteroid could hold 33,000 tons of extractable metals, including $50 million in platinum alone. A 23-foot-diameter C-type (carbonaceous) asteroid can hold 24,000 gallons of water, useful for generating fuel and oxygen. Even 1 gallon of water, at 8.33 pounds per, can cost tens of thousands of dollars to launch into Earth orbit. Prices will probably come down now that SpaceX and other private launch companies are in the game. But the numbers would need to improve a lot for water launched from Earth to compete with water that’s already floating in space. “

 

 

 

Thanks to Democrats – US Now 100% Dependent on 19 Strategic Rare Metals & Minerals – 11 of Those From China

 

rare earth map

(Seeking Alpha)

 

 

 

” Thanks to Democrats, the United States is now tied for last, with Papua New Guinea, in the time it takes to get a permit for a new rare metal or mineral mine. And, thanks to Democrats, the United States is now 100% dependent on 19 strategic rare metals and minerals, 11 of those are from China.
American Resources Policy Network Principal Daniel McGroarty wrote about this crisis in The Wall Street Journal today.”

Tiny Gold Bars Latest Rage For Jittery Investors

 

 

” Private investors in Switzerland, Austria and Germany are lining up to buy gold bars the size of a credit card that can easily be broken into one gram pieces and used as payment in an emergency.

Now Swiss refinery Valcambi, a unit of U.S. mining giant Newmont, wants to bring its “CombiBar” to market in the United States and build up its sales presence India – the world’s largest consumer of gold where the precious metal has long served as a parallel currency.

Investors worried that inflation and financial market turmoil will wipe out the value of their cash have poured money into gold over the past decade. Prices have gained almost 500 percent since 2001 compared to a 12 percent increase in MSCI‘s world equity index.

Sales of gold bars and coins were worth almost $77 billion in 2011, up from just $3.5 billion in 2002, according to data from the World Gold Council. “

 

 

HT/Tyler Cowen