Silver is going, going … soon gone – Apr. 2, 2008

 

FYI – Anyone interested in the last opportunity to acquire physical silver, i.e. coins such as silver Maple Leafs at around $20 per ounce retail had better act fast. All major U.S and Canadian coin dealers are sold out, the Royal Canadian Mint is down to a handful and Gatewest Coin of Winnipeg about whom I emailed some of you recently has a few pre-2008 only and they’re going fast. Bless their souls but they belabour under the illusion that the commodity markets are a free and unrestricted market.

    Their 2008 coins have been on backorder since October (those wonderful folks at Gatewest haven’t connected the dots yet.) Read between the lines: there is no more silver because the U.S cartel has manipulated and kept the lid on the price so long there is now a physical shortage of silver which means the price has nowhere to go but up when industrial users start trying to replenish their supplies. Substitute metals are palladium at 25 times the price and platinum at 100 times the price. In other words, a tiny amount of silver that is used in electronic devices (too small for scrap recovery) is small enough that a doubling or tripling (or more) of the price of silver would have a negligible impact on the overall price of electronics so industrial users will be able to pay many times the current price of silver and still be cheaper than palladium or platinum.

    Never let it be said I didn’t warn you…..

    This will be the last communication about silver. From now on I’ll bite my tongue to keep from saying “I told you so.”

(Cassandra: Greek mythological figure who was blessed with the power of prophecy and cursed because no one listened.)

Gerold  –  Apr 2, 2008
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Disclaimer: I’m not an investment advisor and these articles are for commentary only. For specific advice you should consult your own investment professional.

Your comments are WELCOME! Lengthy comments may time-out before you’re finished so consider doing them in a word doc first then copy and paste to “Leave a Reply” below.

About gerold

I have a bit of financial experience having invested in stocks in the 1960s & 70s, commodities in the 80s & commercial real estate in the 90s (I sold in 2005.) I am appalled at our rapidly deteriorating global condition so I've written articles for family, friends & colleagues since 2007; warning them and doing my best to explain what's happening, what we can expect in the future and what you can do to prepare and mitigate the worst of the economic, social, political and nuclear fallout. As a public service in 2010 I decided to create a blog accessible to a larger number of people because I believe that knowledge not shared is wasted.
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