Many of you have received an email from APMEX yesterday about buying gold and silver over spot price. This is the first time that I ever remember seeing a tactic like this from them. Now don’t get me wrong, I have had nothing but good things to say about APMEX, I have bought from them in the past and they are an affiliate advertiser on the blog. I have to say that I am a little taken a back from this email and is something we all should be paying close attention to.My first conclusion that this is the inevitable outcome of the US Mint stopping production of silver American Eagles in March, despite record sales. The normal sources of supply must be drying up for APMEX to try to solicit buying back their product. This could be a sign of real stress in the real physical market of silver. After all there should be a lot of silver on the market with the smack down we saw yesterday. (Do you smell the sarcasm?)
The next thing I would think about is that customers are buying and not selling. I can tell you from all of the people I talk to on a regular basis, that people are dumping their savings accounts, 401ks, IRAs, stocks, bonds and any other paper assets and buying REAL tangible wealth. I have told you my story of a very good friend, that after 6 years of me pestering him about buying silver, finally read the Silver Bullet and the Silver Shield and said to me “I get it now.” This weekend alone, my mother and father in law came to me about buying silver. They are 70+ year old retired autoworkers and they now get it. My neighbor was in a mommy support forum and they got talking about the bad economy. She googled hyperinflation and ran across my blog and was shocked that it was her next door neighbor wrote the article. My wife’s best friend who just beat cancer is “scared” about the economy and the future of her kids and want to buy silver. A guy who I twisted his arm to buy a monster box at Christmas time, gave me a “high five” in the mall over the weekend. A very good friend of mine is considering selling the home he built to buy silver. As I am writing this article I just got Skyped from an old coworker asking about silver. We are close when people around me are waking up on their own. Once you are aware, you can prepare.
Prices MUST be going up, for APMEX to invest into buying more supply over the spot price.
I believe the mint ceased production of silver coins for reasons other than supply, although that might be a minor factor. I'm curious to see if anyone out there has any other ideas about the 'why's' connected to the mint stopping production. I have suspicions, but I'd like to see others' take on this development.
ReplyDelete10:00 Wow double speak that said nothing...So what's your suspicion?
ReplyDeleteYou say lack of supply isn't an issue fine...Then why are some orders having a hard time being filled?
If not wouldn't JPM have paid off all it's contracts that it's upside on?...I mean they are literally paying millions since they can't fill the orders they bet against.
Is it the metal companies trying to hike the price before dropping it and raking in the silver back at a cheaper price?
Speak now or forever hold your peace.
Once the dollar is deemed 100% worthless, we'll have to go back to the gold standard, except this time the new dollar will also be backed by silver. My guess is, the mint knows the dollar will die very soon and any silver they may still have will be reserved for backing the new PM backed dollar.
ReplyDeleteSo APMEX wants to buy my silver? I bought my Silver Eagles for $24.95 each and now they are worth $52.00 each and APMEX is offering to buy Silver Eagles for $55.00. Let me think.... ugh... NO!
Hey, 10:54, My suspicions are innocent and really based upon an ignorance of certain things (I believe it's a fundamental necessity in any discourse to admit one's ignorance when it applies). My main suspicion is that once the dollar is rendered worthless, people will have to possess some means of exchange and metals are one method of doing that; yet, if they're not available in sufficient quantities then people will have to accept whatever trash central governments offer up or else the majority of our population will have to engage in a barter system (which is a viable option). I'm truly curious as to what people think about this possibility. What do you think?
ReplyDeletekeep slamming silver JPM gotta love it
ReplyDeleteMORE IS BETTER THAN LESS.
is ten silver coins and fifteen gold coins all right? i am not able to get any more.
ReplyDeletei have some really good skills, though.
DEATH TO NICKELODEON AND DISNEY CHANNEL!!!!!!
ReplyDeleteIM SORRY BUT THIS IS THE ONLY PLACE I AM ABLE TO SAY THIS.
WHY DONT THEY MAKE AN ARTICLE ON HOW THESE CHANNELS ARE BRAINWASHING KIDS?
Are any of you worried that AMPEX is emailing you? Could the government "compel" them turn over the email lists, thus making it possible for confiscation? Just wondering!
ReplyDeletePEOPLE WHO WASTE THEIR TIME BY WATCHING BRAINWASHED CRAP ALL DAY WITHOUT DEVELOPING ANY USEFUL SKILLS MAYBE DO NOT DESERVE TO SURVIVE WHEN EVERYTHING FALLS APART.
ReplyDeleteAnything regarding deeper motives is just speculation at this point. What we do know, and th e most likely scenario is, that they realize that carrying dollars is a poor hedge for anyone going into the future. Each day we slowly creep towards hyperinflation and an imploding economy. When the dollar is falling and precious metals and commodities are increasing (very strongly lately) who wouldnt want to be holding the latter?
ReplyDeleteThis is a small but interesting sign regarding acknowledgment that things will not be improving.
AMPEX can have my email address. The only metal I store at home is lead.
ReplyDeleteMy PM's are not in a safe deposit box, why allow the government thugs to have it that easily?
I had to read two stories/theories and then when combined, it makes perfect sense. It goes like this;
- Oil prices are rising fast. My corner gas station's lowest price is $4.17 and it goes up 2-3 cents every 48 hours or so. $5.00/gal will be here surly by Memorial Day weekend.
- Oil prices go up and up and OPEC thinks that's great. We buy as much oil from them as we can and pay them with soon to be worthless dollars. Let's pretend I trade my new iPad for your Silver Eagles, you think it's a fair trade, until you get it home and attach it to your computer and iTunes pops up and tells you the iPad you connected is stolen and then Apple does something to lock up the iPad so it never works again. You suddenly have a worthless iPad you just traded good silver for. All the dollars OPEC is swimming in will soon be worthless.
- Meanwhile the USA has always had massive oil reserves that we have not tapped in the name of "Environmental Protection" as we at the same time drain OPEC dry of their oil. What little oil they do have left, they will offer to China and India, but it won't be enough to supply their demands. So what our government did (and is doing) is giving OPEC a huge ass-rape.
- As the cost of oil rises, so does gold and silver. We need gold and silver to go as high as possible, so I have no problem accepting the idea/outcome of $5,000/oz gold and $2,500/oz silver.
- This is the part I can't confirm, but I do believe that there are a few "good guys" who know the dollar will fall flat on it's face and we can do nothing to stop it. The "good guys" want the dollar to collapse.
Then...
++ All of our nation's debts are cancelled. Think of the guy that maxis out his credit cards and buys a new car and takes a second mortgage on the house, knowing full well, he will file for bankruptcy soon.
++ All other nations of the world will also collapse shortly thereafter. They too will not be able to pay their debts and they will also be cancelled. It's a Biblical Jubilee. For you who don't know, the Bible teaches in the Old Testament that every 50 years, all outstanding debts are cancelled in the Year of Jubilee and everyone gets a fresh start. The playing field is leveled.
++ The world will hate us for causing all this, thus ends the "New World Order" and Globalism, everyone will have to start over, on their own.
++ A new gold/silver backed dollar will have to be released.
++ Domestic manufacturing and jobs will return and American life will once again be the best in the world -- after the terrible civil war and public outrage we will all have to participate in. Many will die of starvation and violence. It won't be fun and it could last a very long time.
++ Patriots will bring back our Constitutional Republic and the likes of Benny B and Timmy G will be rotting away in some desert prison along with all their friends, including Obozo.
What think Ye?
4:54 - Excellent post. Very well written, a rare commodity (pun intended) on this blog.
ReplyDelete4:54 Ben B and Tim G will NOT be going to prison. They and many comrads will be windchimes in a stout branched oak tree.
ReplyDeleteI only have 2 Silver Eagles, everything else is in bars or some other mint. If they want to take those 2 I don't mind, but I think they have a minimum requirement of $500. Wait a few more months and I might actually hit that requirement, but by then I assume I wouldn't want to.
ReplyDelete4:54 you are living in a fantasy, I hate to say it. Yes, you are right we are raping the middle east, feeding them worthless dollars for their oil. But that has been the game all along, don't you see? Oil is what makes economies grow and become supreme. We were the biggest economy up until now. The oil will continue to run shorter and shorter. There are not enough oil reserves in the US to magically fill up all our tanks and keep our industry running forever. That is a myth.
ReplyDeleteThe "patriots" will not be getting together for another "tea party", replete with constitution in Buddha shrine. The US is over. It may one day separate into different regions forming different countries or simply autonomous zones.
Another thing, don't forget about the environment. We already have to mega-disasters on our hands. If things don't change soon we will be swimming in oil pollution and radiation, particularly if there are more mega-earthquakes in our future.
Peace out.
It's not just in the movies anymore, is it? Real life and it looks like some bizar late night movie. This world is really getting crazy. I think maybe it's been crazy for everyone else for a long time, and only just now we're starting to get hit with what the rest of the world has been getting for a long time? No doubt that we are in the middle of the greatest depression now, and headed to probable civil war I guess...really takes the joy out of things. Life has gone from seeking enjoyment to planning and preparing and planning some more and preparing some more. Throw in a little worry here and there. Pretty much sucks really. Sure feels like "Something wicked this way comes".
ReplyDelete7:53 - You sound like a wimp. When the Second American Revolution begins, weaklings like you with no spine or guts will be the fist to go. The rest of us will fight to restore our constitutional republic.
ReplyDelete7:53 - You sound like a wimp. When the Second American Revolution begins, weaklings like you with no spine or guts will be the first to go. The rest of us will fight to restore our constitutional republic.
ReplyDelete9:50 the all time dumbest poster here. He mixes his fiat toilet paper with his milk and slushes it down.
ReplyDeleteA weakling? No douche bag, it's called having half a brain, which you apparently lack at all, and that is a thing that will go MUCH further than guns and ammo and NO fucking brain. Odds are you will probably end up shooting yourself in the foot and dying of an infection...because no one wants to care for a sorry ass like you without brains or people skills.
ReplyDeleteThat's okay, you can whine and get all defensive you want. Perhaps you can even soak up your tears with a cheap copy of the constitution. All I am stating are trends and facts about reality: the country will implode and the environment is not far behind it. Any sheep-loving hick could see that too.
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