bix weirMost of you have heard that the US Mint has once again stopped selling Silver Eagles because they have “sold out”. A few years back it was 100% against the law for them to stop production as they were legally obligated to buy silver at any price.  Now Silver Eagle program can only be stopped with the authorization of the US Treasury Secretary….which was no doubt done this time. They have also said that they will be rationing in the future. They are also raising the premiums on all silver coins. Those of you who already have Eagles hang on to them for dear life!! Those who don’t should buy pre-1965 silver coins by the BOAT FULL before they are gone too.
On top of all this shortage stuff SLV, the big Silver ETF run by JPM and friends, added 20M ounces to their inventory. How come the banks can get 20M ounces in a matter of days and yet the US Mint can’t seem to find any? Boy, that Blythe Masters must have more silver hidden in her bra!
And while we’re on the topic…why don’t we all send an email to Bart Chilton and his crack staff asking how the US Mint can sell out of silver and 20M ounces of silver can be bought for the silver ETF and yet THE PRICE OF SILVER HASN’T RISEN TO REFLECT THE SHORTAGE OR MASSIVE BUYING?!
Ah, one of those many mysteries for the CFTC to tuck away in their “Active Investigation” drawer!
Meanwhile, on the Road to Roota all Road Signs are screaming that “the big thing” for silver is imminent and this week’s Private Road Trip lays it out…
Never a dull moment on this Road!
Bix Weir