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Gold And Silver Fly Out Of U.S. Mint

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Unread 01.19.13, 07:04 AM
@PersonalLiberty @PersonalLiberty is offline
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Gold And Silver Fly Out Of U.S. Mint

01.18.13 10:01 PM

More Americans are becoming wise to the debasement of the U.S. dollar and destruction of the economy by the ongoing quantitative easing to infinity money printing and massive deficit spending, as evidenced by the surge in the sale of physical gold and silver by the U.S. Mint in recent weeks. They are recognizing the system is in its death spiral.

As of Jan. 15, the U.S. Mint had sold 110,500 ounces. That put it on track to exceed the 127,000 ounces sold in January 2012 and exceed the highest monthly tally since 1999.

Silver Eagles started slowly but picked up in the second and third weeks of January. As of Jan. 15, more than 5 million ounces of silver had been sold by the Mint. That had it on pace to exceed January 2012’s record of 6.1 million ounces. Demand for Silver Eagles was so great, the Mint had to suspend sales because it ran out of coins. Sales will not begin again until Jan. 28.

Gold and silver are the only true store of value. Those green paper slips you hold in your wallet are worthless and worth less by the day. It is all funny money, as evidenced by the serious discussions recently of simply minting a platinum coin and claiming it to suddenly be “worth” $1 trillion.

Gold is currently selling for about 1,690 of those green slips; silver for about 32. I expect gold to run past $2,000 per ounce in the coming months and silver to exceed $400. This will happen when JPMorgan Chase and Co. and the other manipulators crash. And how can they not, when they are trading fake silver back and forth to rig the price?

COMEX futures and options showed that full-year trades of silver were 98 billion ounces in 2011. That was a record year for silver mining, but still only 782 million ounces were mined. In addition to coins and jewelry, silver has industrial uses. The traded 98 billion ounces were all derivatives and computer clicks and are as phony as the derivatives market that exploded the market in a massive crash in 2008.

Buy and hold physical silver, as much and as fast as possible. Find a reputable local coin dealer in your area. Pre-1964 “junk” silver U.S. coins are the best buy.

Buy and store guns and ammo when you can find them. Store food and water. The year 2013 will be an adventure, but not so much fun for the unaware and unprepared.

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