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View Full Version : What could it mean for silver?



hiyosilver
3rd September 2008, 03:58
Ft. Belvoir, VA The Defense National Stockpile Center announces plans to suspend competitive commercial offerings of six commodities and reduce the sale amounts of seven additional commodities. The actions are being taken as a result of an on-going study to address congressional concerns about Department of Defense needs for strategic and critical materials.

Sales of the following commodities are hereby suspended until further notice: Columbium Metal Ingot, Tantalum Carbide Powder, Platinum, Iridium, Tin and Zinc. Sales offerings under the following solicitations are immediately suspended:

Columbium Metal Ingot - (BOA) DLA-TANTALUM-001
Tantalum Carbide Powder (BOA) DLA-TANTALUM-001
Platinum (BOA) DLA-PGM-002
Iridium (BOA) DLA-IRIDIUM-003
Tin (BOA) DLA-TIN-011
Zinc (BOA) DLA-ZINC-004

Additionally, inventories of several commodities will be held in reserve for Defense contracts
with the net effect of reducing the amount of these materials available for sale. Sales of these commodities will continue, but selected quantities will no longer be available for sale. Those commodities are: Beryllium, Cobalt, Ferromanganese (HC), Ferrochromium (HC and LC), Germanium, Tungsten Ores and Concentrates, Tungsten Metal Powder and Chromium Metal.

The ongoing review and possible reconfiguration of the National Defense Stockpile may result
in additional adjustments to inventory and sales plans. A working group led by the office of the Deputy Under Secretary of Defense for Industrial Policy is expected to complete its work in late November 2008.

Trvlr45
3rd September 2008, 05:11
I believe that this could possibly mean for silver is what I have thought about for quite a while. They can label it as a strategic material by making up any story they want therefore labeling it illegal to use as a monetary medium and illegal to own.

However, I seriously doubt we have to worry about that since there really isn't any shortage of it on earth. They just aren't mining for it in earnest because the price is still so low.

Argentum
3rd September 2008, 08:31
Very interesting....

Silverbach
3rd September 2008, 09:54
About this read this article:

Of Wars and Strategic Metals (http://seekingalpha.com/article/93590-of-wars-and-strategic-metals)

And a previous one:

Safe Haven Investments Amid a Global Crisis (http://seekingalpha.com/article/88812-safe-haven-investments-amid-a-global-crisis)

This is a very important strategic decision on the US government's part. It's a change of policy that lasted since the end of the Cold War!

As for silver, the US government has long sold out the last ounce of silver in the Defense Strategic Stockpile inventory a few years ago. Whether they will now decide they need to hoard some silver, we will have to see. But I do not thnk they feel the need at this moment. Not only they suspended sale of platinum, they also issued orders to buy berylium, titanium and cobalt. All important war materials.

nuslvrkwen
3rd September 2008, 18:33
These articles show me what the Stategic Stockpile already had in inventory that it's decided not to sell! Anything else they have in their stock pile inventory CAN be sold. The whole thing with the $1Billion Dollars to repair Georgia (WHY are WE paying this? Cause we can't touch the $78 Million Iraq has stored in this country) and other such PR moves means to me that other things in the stockpile inventory can be sold so we can make such PR moves.

I guess this means we'll have to get out there and steal some more catalytic converters to get cash for that big screen TV...