Posted on 08/10/2015 11:11:40 AM PDT by blam
While the deflation is real, it is not what is affecting the metals.
Largely they are “accidentally” being overproduced by companies that are mining other metals.
When the war against cash enters its next phase, they will begin to climb. Many forms of silver bullion are now almost impossible to buy right now. Coin dealers have essentially no gold for sale on site, and are not anxious to order any either.
Gasoline has gone up here.
I am waiting for tungsten to go down. But the Chinese have that market locked down like Obama’s college records.
People that are holding Euros are in a mad rush to hold dollars, so the stuff is shipping out to Europe presently.
That is where all the dollars went.
I had to wait half an hour last week to get $2000 in hundreds from my bank.
Gasoline dropped $0.35 in California during the night.
I filled up at $2.95/Gal today.
My in-town dealer had a tube of 20 x 1 oz uncirculated Silver Eagles. He was asking $548. That's huge premium over the $14.78 spot for silver bullion and $17.75 "ask" for Silver Eagles that day.
I prefer to dodge the numismatic premium. It's easier just to deal with the value of the PM "melt price".
2.95 a few days ago. 3.19 today. Go figure.
We won’t get any relief until the feds and tree hugging nihilists allow more refineries to be built.
Goldbug ping.
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