Is it all ’going down,’ with the stocks, mining shares, Russia-Georgia, Fanny and Freddie declines, bank closings, ever more foreclosures, etc? I doubt it! True, ever more out there are wising up and deciding to get into metals, because they realize that paper scrip is on the decline around the world, and I can’t blame them. Besides, prices of metals are at the lowest of many months. Not years, just months! Why did silver fall out of bed? I have heard from reliable sources that last Thursday late afternoon, some entity dumped 10,000 contracts, which in actuality put 50 million ounces of silver on the market. If this is true, guess what? The market wins and works. The ratio between silver and gold jumped from 52 to 1 to 60 to 1, making silver an outstanding buy. Everyone then, naturally decided to call their supplier and buy silver. And then, guess what? The phone lines were busy, and you couldn’t get in. They still are. And then guess what again? Prices went up from manufacturers, like they always do when a panic occurs. I am spending 12 hours a day at my desk, and life isn’t supposed to be this way. You readers are clamoring for metals, and the supply is used up. Manufacturers are working 24/7 to meet the demand, and it is still backlogged a couple of months. Panic? Yes, but do not panic. Like other things, this too will pass.
Will silver go down further, and gold follow? I don’t know. All I know is that the paper bound financial world, is losing the confidence of even Joe Six-pack. Even the dullest of morons is beginning to realize that paper scrip and empty government promises and lies are shallow, to be polite. “We’d better get some gold,” must be the increasing thought of thousands, and the phones are busy and supply gone. It had to happen eventually. Don’t worry; just be glad a few more are wising up. I hope it is your friends and family. Just remember: Gold and silver are real, honest to goodness, historic, tangible, beautiful money, and are not dependent on government lies and promises. They stand alone. If you can’t get through, try someone else, but don’t fall for the old numismatic nonsense about confiscation and safety. These guys are classic used car salesmen. Just get the most gold and silver for the least dollars, and if you can’t get through at these prices, believe me, in a year, they’ll probably be double what they are now…in dollars, francs, pesos, or yaun. Do not panic, as it won’t solve anything.
This almost has to happen in any situation where panic rules, and prices are so low as to be absurd almost. But prices, even at $12 and $790 are still higher than a year ago. Don’t panic, and wear your phone out. If prices go up, get metals at any price, because there’s no limit to how high they can go in paper scrip. Here’s how I see it. First of all, just about anything you want to buy will take a couple of months to get probably, because of the unprecedented demand. The manufacturers are working 24/7, and they can’t buy new mills, stamps and presses overnight. There is no shortage of silver or gold. Just a manufacturing ability shortage, which cannot be solved overnight, nor even in a few months. Machinery is expensive, and takes a lot of time to build and install. If there were a shortage of the metals, prices wouldn’t be low, but shooting skyward. There are many thousands of tons of silver and gold, awaiting the making of it into bars, rounds, and coins. I am certain that efforts are being made to correct the shortage of manufacturing ability, but it will take time.
If you get through, and will have to wait a month or two to get your stuff, I guarantee that you will get it. We deal with the world’s largest distributor, and there is no financial stress at A-Mark. We don’t have your dollars at our suppliers, awaiting shipment. We pay on the day of shipment by wire, and our banks are small, individually owned, and very solid. We have taken care to see to that. We deal with no Wells Fargo or Wachovia! While you are awaiting the metals to be in stock and being shipped, your dollars are safe in our two banks. Are your dollars safe from declining value? Of course not! The physical dollars are safe, and that’s all we can say, other than if you do get through and order, you will get the metals when they come in. Not much else to say, except that it almost had to happen, and don’t panic. Things are never as bad as they seem. The dollar isn’t going to zero, don’t consider moving out of America, and do everything you can to see to it that the White House doesn’t have speakers installed on it to call to prayers on Friday! Obama has to be stopped. Protect yourself and America by doing all you can to stop Obama!