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U.S. Mint running out of Silver and Excuses
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Thread: U.S. Mint running out of Silver and Excuses

  1. #1
    zr4's Avatar
    zr4 is offline Silver Seeker Senior Member Site Admin
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    Default U.S. Mint running out of Silver and Excuses


  2. #2
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    These articles have been written for many years now, and while it is true that the US Mint is indeed running short of supply, it's not because the product isn't out there. Look at the US Mint production numbers...they're still getting it...they're even shipping it. Some notes about this article:

    ~ The mint is running short, and demand can't be met. Why? Because they no longer sell much of the ASE bullion to individual sellers. Wholesalers are buying them. For instance...take THESE GUYS. They are an ULTRA-SMALL PM wholesaler, based in Oregon. According to a friend who works for them, they purchased more than 1,000,000 2010 ASE's. That is roughly 2.5% of ALL produced ASEs go to this rinky-dink PM house. What is also curious, is that said company still has more than 1,000,000 2009 ASE's in stock...i.e...people didn't pay the prices they were asking for them, and they're now sitting on them. My point is not to rip these guys (they actually have some good prices), but to say...if this little rinky-dink company has that much, imagine what is at the larger wholesalers. No wonder the mint can't meet public demand! We're not willing to pay what these yahoo's are asking.
    ~ This article does not mention that the US Mint has been outbid on silver, and that due to private companies supplying the US mint with silver, it becomes a bidding war. Nowadays, every Tom, Dick and Harry mom-and-pop shop has their own coins produced with .999 stuff. Hell...did you know that last year saw an increase of 3000% in production of the (non-monetary) .999 Buffalo round? There are countless examples of similar ilk.
    ~ Similarly, many small companies now will not grant extended terms to ole Uncle Sam, on the purchase of rounds...as well they shouldn't. In other words, the US Gov't can't pony up the cash to get what it feels it needs to supply the public. In actuality, they have what they need, they merely choose to supply ONLY to wholesalers, and limited subscription members on USMINT.GOV.
    ~ This article states that silver doesn't need to be purchased from domestic sources. Well...it hasn't needed to since our the Strategic Stockpile stopped advancing. This occurred YEARS ago. Once demand outpaced stockpile (which was calculated using a really funky inverse derivative [not an integral, but a true inverse] for the logarithmic norm for economic growth) the mint was legally able to acquire silver on the open market (i.e....get it from the lowest bidder). When Reagan passed the original bill, however, ASE's were required to be made from silver mined here.

    Everyone knows we're slowly stripping mother earth of its natural resources (silver and gold included), but this article is a little bit misleading. The research is also incorrect. While it took a detour during its House and Senate works, it was indeed signed by both, even after consideration. SEE HERE

    I have found SEVERAL other errors in the reporting, but it's not worth the time to find each and every source of impropriety. Point being...don't believe everything you read....
    Last edited by balou2; 9th September 2010 at 23:38.

  3. #3
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    Quote Originally Posted by balou2 View Post
    I have found SEVERAL other errors in the reporting, but it's not worth the time to find each and every source of impropriety. Point being...don't believe everything you read....
    No, no, no.

    Facts are much to troublesome and such a burden.

    Much better, and easier, just to read the headline and move on.
    Caedite eos.

  4. #4
    ccjoe is offline Senior Member Site Admin
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    Just buy gold and be stupid as it's better to buy at the highest price in history and sell low.
    Jim Rogers and ME believe the opposite. I call it uncommon sense as so few have it.

  5. #5
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    Exclamation Danger ahead.

    This is the first time in recorded history that a global reserve fiat currency backed by nuclear weapons runs into the laws of money.

  6. #6
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    This is an important thread to keep at the top...for a little while.

  7. #7
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    Quote Originally Posted by balou2 View Post
    While it took a detour during its House and Senate works, it was indeed signed by both, even after consideration. SEE HERE
    Thanks balou. a very interesting info indeed

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